Press
QUINN group acquires 93% of Kiev Retail Centre
The Board of the Quinn Group is pleased to announce that it has acquired 93% of the Share Ownership in Univermag Ukraina, a substantial Retail Centre in central Kiev, Ukraine. The Group has acquired the shares from NCH Advisors which has been successfully operating the centre since its redevelopment in 2003.
Encompassing 35,000 m² of retail and parking space, the Univermag Ukrania offers the highest standards in shopping mall and entertainment facilities alongside traditional retail trade. The centre includes many leading Ukrainian and international brands and has been recognized as a leader in the retail sector in Ukraine since opening.
The Quinn Group look forwards to having a strong and positive working relationship with the current staff and tenants of the Univermag Ukrania. The Centre has been extremely well positioned in the market over the last three years and Quinn Group will ensure that this position is maintained.
This acquisition will complement Quinn Group's growing property portfolio in Ukraine and Russia, which now includes a substantial business centre, warehousing and retail assets. In particular, the purchase of Univermag Ukrania adds to the Group's growing presence in Kiev as it follows the purchase earlier in the year of the Leonardo Business Centre in the city. Further information on the Quinn Group and their property interests can be viewed on our website http://www.quinn-group.com
Quinn Group
With its head office in Ireland, the Quinn Group is a multinational organization with substantial interests in a range of diverse industry sectors throughout Central and Western Europe, including financial services, hotel & property management, cement production and the manufacture of related concrete products.
It is a market leader in Ireland and the UK in the production of container glass products for the drinks and food trade and is a major provider of building insulation products. It is also a market leader on a European wide basis in the supply of heating radiators and also for the production of industrial and domestic plastics. In line with its mission of ongoing diversification, the Group is now substantially extending its commercial property portfolio in established and emerging economies.
- ends -
