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01 July 2005

St. Petersburg Mall closes

The European Bank for Reconstruction and Development (EBRD) and the RZB Group have closed the Eu65 million ($78 million) financing of the Piter Raduga shopping centre in St. Petersburg. The developer is Vinci Construction Grands Projets of France, which will sell the completed project to a group of private investors. The project and its backers hope to attract name international retailers to the complex, located in Russia's second largest city.

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