Mirland Development Corp. plc has closed its acquisition of a minority interest in the Century Project. This deal was announced on 22 June 2016. Completion of the Acquisition was conditional upon completion of the debt settlement with SberBank of Russia, which took place and was announced on 20 September 2016. Consideration for the acquisition is USD 8 million (of which approximately USD 3.25 million will be off set against the loans owed by the partners to the company and the remainder will be paid by the company in cash on completion of the acquisition). This project includes two class B+ office buildings totaling 20,903 sqm of leasable space located in the northern part of Moscow's Novoslobodsky business district. The acquisition will enable Mirland to provide security over its rights in part of the project and cross-guarantees between all projects financed by Sberbank of Russia as part of the negotiations with the bank in relation to the potential refinancing of the existing loans (in the amount of approximately USD 160 million) owed by the company to the Bank.