OREANDA-NEWS. On September 05, 2007 JSC Sistema-Hals (LSE: HALS), a leading, diversified company in the Russian and CIS real estate market, has announced the acquisition of a 74,9% stake in Gorki-8 Ltd., owned by Dmitry Yakubovsky, reported the press-centre of Sistema-Hals.

The deal sees JSC Sistema-Hals acquire over 35,000 m? of real estate and nine hectares of land on the Rublevo-Uspensky Highway. The deal is valued at over USD 100 million.

Felix Evtushenkov, President of Sistema-Hals, said:

"This acquisition forms part of the company's strategy of building up assets in the premium segments of the market in order to generate rental income. Sistema-Hals is increasing its holdings in the suburban property sector and will continue to acquire significant positions in this real estate segment. The acquisition of this stake represents an important step in implementing this strategy."