OREANDA-NEWS. On January 29, 2009 As part of a corporate restructuring program, SCM has transferred the interests in some real estate assets of the Group to a subsidiary, ESPV LIMITED (Cyprus), which is in total ownership of SCM Group, reported the press-centre of SCM.

In particular, SCM transferred the following assets to ESPV LIMITED: 

Limited Liability Company ESTA Holding (Donetsk) - 100%;

Close Joint-Stock Company Children Recreation Center Bereg (Alushta) - 65.57%;
 
Limited Liability Company Pluty Cottage Complex (club country permanent residence, Kiev) - 84.47%;

Limited Liability Company Intern (Opera hotel, Kiev) - 99.99%;

Limited Liability Company Donbass Palace (Donetsk) - 89%;

Limited Liability Company Pushkinsky Complex (multifunctional complex, Donetsk) - 12.74%.

Consolidation of real estate assets within a single corporate centre will help improve business transparency and make it clear for the partners and investors.

Real estate is one of the strategic businesses for SCM Group, and creation of transparent ownership and management structures is an important step towards this business area development within the Group.