KDD Group acquires Kyiv's Darnitsia department store

KDD Group (KDDG LN) announced yesterday that it signed a preliminary agreement to buy the Darnitsa department store in Kyiv’s Leningradska Square. KDD Group previously managed the building’s reconstruction and selection of tenants on behalf of the owner. The main agreement is expected to be signed in mid-March following approval from Ukraine’s Antimonpoly Committee and due diligence procedures. The final acquisition price will be determined after due diligence has been completed. The Darnitsia department store consists of 6 floors (bottom four floors are retail, top two – office space) and has a total area of 12 ths m2 (retail area: 5.8 ths m2; leasable office space: 2.3 ths m2).