MirLand Development Corporation Plc (AIM:MLD) entered into a conditional agreement to acquire a minority interest in Century Project in Moscow from TMJK Holdings Limited and Fadida Holdings Limited for $8 million on June 22, 2016. The consideration of $8 million will comprise of a contingent payment of $3.25 million, which will be off set against the loans owed by TMJK Holdings Limited and Fadida Holdings Limited to MirLand Development and the remainder will be paid in cash on completion of the acquisition. As of July 8, 2016, MirLand Development announced that the Century project loan, was amended and the principal repayment of $0.3 million is now deferred until September 28, 2016. As on August 10, 2016, $6 million will be utilised for funding of the acquisition. As of August 23, 2016, all the pre-conditions to complete the transaction have been fulfilled except the debt settlement with the financing bank in Russia. The completion of the transaction is subject to refinancing of the existing loans with the Sberbank of Russia, Sberbank of Russia's approval and certain other approvals from the MirLand Development Corporation Plc's banking syndicate. Jeremy Ellis and David Anderson of Investec Bank plc acted as financial advisor and Dido Laurimore, Tom Gough and Ellie Sweeney of FTI Consulting acted as public relations advisor to MirLand Development Corporation Plc. MirLand Development Corporation Plc (AIM:MLD) completed the acquisition of a minority interest in Century Project in Moscow from TMJK Holdings Limited and Fadida Holdings Limited on September 21, 2016.