Russian Federal Antimonopoly Service (FAS) has approved the request of the offshore FPH Europe Holding II (H-K) Ltd on the acquisition of the Voentorg store.
Federal Antimonopoly Service mentioned the fact on its website. Offshore FPH Europe Holding II (H-K) Ltd was entitled to determine the conditions of activity of JSC “Trading house “Central military Department store”. The latter owns multifunctional complex “Voentorg” in the center of Moscow (66.7 thousand square meters on the Vozdvizhenka street). Its owner, ex-owner of Uralkali Dmitry Rybolovlev tried to sell the building in 2014.
FPH Europe Holding II (H-K) Ltd is related to Chinese conglomerate Fosun 复星. This company together with the management company Avica began to negotiate the purchase of “Voentorg” in the Autumn of last year, shortly after a fell through deal with the “BIN” (now Safmar) group of Shikhanovich—Gutseriev family.
Real estate investments for Fosun International 复星国际 are made through Fosun Property Holding (FPH), according to the official website of the latter. Hong Kong offshore FPH Europe Holding II (H-K) Ltd was registered in March last year, as mentioned in the registrar of companies on one of the administrative sites of Hong Kong.
In August last year, the “Voentorg” was estimated at 10-12 billion rubles, or $156-187 million.