Lamda Development acquired the remaining 31.7% of Lamda Malls

The agreement was signed by Lamda Development S.A. for the acquisition of a minority stake (31.7%) in the subsidiary of Lamda Malls SA, held by Wert Blue SarL, a 100% subsidiary of Värde Partners, for a price of € 109 million in cash.

According to an announcement, the transaction is expected to be completed within the third quarter of 2022, with the completion of the contractual conditions that mainly concern the approvals of the banking institutions.

Upon completion of the transaction, the Company acquires full control of the subsidiary Lamda Malls SA, which holds all the shares of LAMDA DOMI S.M.S.A. and PYLAIA S.M.S.A., which own the Golden Hall and Mediterranean Cosmos Malls, respectively.

The CEO of Lamda Development, Odysseas Athanassiou, stated that “this acquisition is part of our strategy, which includes: the concentration of all existing Shopping Centers, as well as the new, under development Shopping Centers in Ellinikon, under a distinct and independent operating vehicle and  the further strengthening of the Company’s leading position in the sector of shopping centers in Greece, with the possible acquisition of other quality commercial real estate, if the appropriate opportunities arise. “