TKS earns USD 3.8 mln from 25% stake sale

TKS Real Estate (37W1 GR) made USD 3.8 mln by selling a 25% stake in the company, Interfax reported yesterday. Oksana Khomyk, development director at TKS, said that the stake was purchased by foreign institutional investors and TKS’ majority shareholder. According to Khomyk, proceeds will be used to finish projects that are more than 60% completed and can generate positive income in the coming months. In particular, the company is targeting four projects for completion: shopping centers in Borislav, Drohobich, Truskavets and the Lisova Pisnya apartment complex in Truskavets.