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TK Development A/S to Discontinue Operations in Germany, Russia, Finland and the Baltic Countries

Monday, 11 Mar 2013 03:52am EDT 

TK Development A/S announced that it has decided on a new strategy for the Company. The market focus is changed to the retail and partly office and residential projects in Denmark, Sweden, Poland and the Czech Republic, whereas activities in Germany, Russia, Finland and the Baltic countries in the short and medium term are to be decommissioned. The plan is also to bring down the Group’s portfolio of non-initiated projects (plots of land) of about DKK 1.1 billion to a level of about DKK 0.5 billion over the next two years, which will result in a reduction of the capital tied up so as to allow the startup of new projects that will generate profit. 

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