The Turkish Renaissance Development has sold the Aura shopping malls in Yaroslavl and Surgut to the Metalist production association, which produces building materials under the Grand Line brand. The newspaper Vedomosti writes about this.
The transaction itself has already been closed, according to two interlocutors of Vedomosti. Another one clarifies that so far only the object in Yaroslavl has passed into the buyer's ownership, and he expects the Surgut complex to be completed only by the summer.
Renaissance Development announced plans to withdraw from the Russian market in 2024. Prior to that, the company participated in the construction of such large complexes as the Lakhta Center in St. Petersburg and the Federation and Evolution in Moscow City. As a result, she put up for sale all her assets, including Aura and nine business centers.
Yaroslavl Aura was built in 2013 on the site of the Voznesensky Barracks architectural ensemble. The Surgut complex was put into operation in 2012.
The Grand Line brand, owned by Metallist, specializes in the production of hinged facade systems, clinker and concrete tiles, and porcelain stoneware. The company's head office is located in Obninsk (Kaluga region). The owners of the group are businessmen Dmitry Baran and Igor Timofeev. Revenue of Metallist Software LLC in 2024 amounted to 61 billion rubles, net profit — 4.4 billion rubles.
Read our Telegram channel "Mergers and Acquisitions. AK&M».
Our channel at MAX is "Mergers and Acquisitions. AK&M».
