We advised Suomen Osuuskauppojen Keskuskunta when it sold the company responsible for St Petersburg Sokos Hotels business to the Russian investors Alexander Ermakov and Yury Shumakovare. As a result of the transaction, the responsibilities for property leases and personnel salaries were transferred to the buyer as of 30 June 2022, and the hospitality business of S Group in Russia ended. The transaction did not include any rights to use S Group trademarks.
S Group is a Finnish network of retail and service companies with more than 1,900 locations in Finland. S Group consists of cooperatives and Suomen Osuuskauppojen Keskuskunta (SOK) with its subsidiaries.
