LAMDA DEVELOPMENT AGREED TO PURCHASE 100% OF THE SHOPPING CENTER MEDITERRANEAN COSMOS IN THESSALONIKI

LAMDA Development S.A. agreed to purchase via a subsidiary company 39,9% of the shopping and leisure center Mediterranean Cosmos in Thessaloniki. As a result, LAMDA Development acquires 100% ownership of Mediterranean Cosmos and the full control of the management of the shopping center. The investment decision lies within its strategy to further strengthen its position in the retail sector.

The transfer of subject shares from a company controlled by SONAE SIERRA and ACROPOLE CHARAGIONIS is expected to be completed upon the fulfillment of the conditions precedent in the agreement, and more particularly the granting of the necessary permissions from the state authorities. The consideration is approximately thirty eight million euros (€ 38.000.000,00) based on a yield of 9,25%.