Company briefs - 2006-08-23

  • 2006-08-23
TK Development, one of the largest real estate property developers and operators in Europe, invested 35 million euros in building a new shopping and entertainment center Galerija Azur due to open in Riga next week. The mall, which boasts over 25,000 square meters of floor space, will house various stores, featuring some retail brands that have not been represented in Latvia so far, as well as many cafes and restaurants. There will be about 80 outlets in total in the new center, the director said, adding that the parking lot next to the stopping center had room for some 960 vehicles.

Lukoil Eesti, the Estonian subsidiary of Russia's Lukoil, acquired the Dio gas station chain in July, bringing the number of its stations in this country to 39. "The process of merging the Lukoil and Dio chains of gas stations is successfully nearing completion," Lukoil said. The parties are keeping the price of the transaction confidential. According to Dio's corporate Web site, the chain had 10 filling stations.

British Airways, which last year re-established service to Lithuania after a few years' lull, will terminate the London-Vilnius route this fall. "The decision to terminate flights on the London-Vilnius route was particularly hard to make. However, this route is not profitable enough, and we have decided to turn down this service at the end of October," said Rasa Barisiene, sales and marketing manager. The company will cease flights to Vilnius on Oct. 29.