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International Internet Magazine. Baltic States news & analytics Thursday, 18.04.2024, 11:04

LPB buys Baata shopping mall in Liepaja for EUR 2.4 mln

BC, Riga, 16.11.2018.Print version
Joint-stock company LPB, which owns part of Top! and Mini Top! chain stores and the XL Sala shopping mall in Liepaja, has acquired another shopping mall in Liepaja, Baata, for EUR 2.4 mln, as Daiga Feldmane, head of the company's administrative department, told LETA.

Hiponia, the previous owner of Baata that is now undergoing liquidation procedures, offered LPB to buy the property, and the two companies made a deal in October. LPB agreed to pay EUR 2.4 mln for Baata.


At the moment, work is under way on taking over the property, settling all the documents and formalities. Once that is done, Baata's business plans will be revised and new goals will be set for it, said Feldmane.


Baata, one of the largest shopping malls in Liepaja, was put up for sale in March 2016. Hiponia initially was offering to sell the mall for EUR 4 mln.


Baata opened in April 2009, the total area of the two-story building is 7,710 square meters. At the moment, there are more than 30 stores and service providers operating at the mall, and one restaurant.


LPB posted EUR 34.704 mln in turnover and EUR 2.2 mln in profit last year.






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