LSRG.L Regulatory News (LSRG)

LSR Group sells its pre-fab factory in Moscow

LSR Group has signed a preliminary agreement to sell 100% of its subsidiary LSR. Construction - Moscow to a company of Financial-and-construction corporation (FSK) Lider. The disposal of the facility is another step in the our strategy aimed to optimize the use of our assets and focus on our primary business line - real estate development.

LSR. Construction - Moscow is our business unit engaged in production of pre-fab panels, as well as design and construction of housing and social infrastructure facilities in Moscow metropolitan area.

Flexibility of modern pre-fab technologies allow construction companies to fulfill any ambitious architectural tasks, in the same manner as poured concrete technology, and ensure high speed of construction works, Vladimir Voronin, President of FSK Lider, comments. Acquisition of such an advanced pre-fab facility will allow us to restructure the existing assets and reconstruct our pre-fab facility DSK-1 without delays on the existing orders.

We are happy to place our plant in trustworthy hands, Andrey Molchanov, CEO of LSR Group, comments. This disposal will allow us to focus on residential real estate development, which is our priority business line in Moscow and the Moscow region.

The parties do not disclose financial terms of the transaction at this stage.

For more information please contact:

LSR Group Press Service

Tel.: +7 812 333 11 11

E-mail: press@lsrgroup.ru 

www.lsrgroup.ru