Austria-based Meinl has entered Ukraine with the purchase of a 60,000 m[sup]2[/sup] shopping centre in Odessa, in the south of the country, for EUR 150 mln. The mall is scheduled for completion in the first quarter of 2009. The initial yield is slightly above 12%, the development company said in a press release.

Austria-based Meinl has entered Ukraine with the purchase of a 60,000 m2 shopping centre in Odessa, in the south of the country, for EUR 150 mln. The mall is scheduled for completion in the first quarter of 2009. The initial yield is slightly above 12%, the development company said in a press release.

The Austrian group, with EUR 3.7 bn of assets under management, said earlier this week it would raise about EUR 1.5 bn through the issue of 75 million new shares and that the proceeds would be used to finance further expansion of its portfolio.