AFI Development buys remaining stake in Moscow project

AFI Development has agreed to buy out its partner for the sole ownership of the Ozerkovskaya real estate project in central Moscow.

AFI Development has agreed to buy out its partner for the sole ownership of the Ozerkovskaya real estate project in central Moscow.

The property development group said it would purchase the remaining 50% interest from joint venture partner Super Passion for $230m. It will also settle outstanding liabilities to its subsidiary Krown Investments.

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