February 2, 2015 / 6:37 AM / 3 years ago

BRIEF-Stockmann plans management buyout of Seppälä

Feb 2 (Reuters) - Stockmann Oyj Abp :

* Signed a memorandum of understanding regarding selling of its subsidiary, Seppälä Oy

* Transaction will take place on April 1, 2015 and will cover 82 Seppälä stores in Finland and 20 in Estonia.

* After codetermination negotiations that ended in December, Seppälä decided to downsize its store network by 41 stores in Finland and reductions will affect about 200 people in stores Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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