BGP Litigation has advised PIK Group on the acquisition of an unfinished shopping center on a square near Paveletsky Railway in Moscow from BTA Bank. The total area of the unfinished center is 73,000 square meters.
According to BGP Litigation, the construction of the shopping mall near Paveletsky Railway Station began in 2007. After the economic crisis of 2008, the work was suspended, and the project itself became subject of multiple legal proceedings, which resulted in purchase of the object at auction by BTA-Bank structures.
PIK Group is a real estate and home building company in Russia that was founded in 1994. Currently the company is listed on the Russian stock Exchanges of RTS and MICEX and on the London Stock Exchange.
BGP Litigation did not reply to our inquiries about the deal.