LAMDA DEVELOPMENT PURCHASED 100% OF THE SHOPPING CENTER MEDITERRANEAN COSMOS IN THESSALONIKI

LAMDA Development S.A. purchased via a subsidiary company 39,9% of the shopping and leisure center Mediterranean Cosmos in Thessaloniki after the relevant authorities approval. Moreover, the company purchased 75% of the Center Management Company. 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 sector.

The investment cost for the acquisition of the 39,9% share amounts to € 78 M. while the net cash outflow (after bank debt) was approximately €38 M