Arco Vara AS completed the sale of its entire stakes in its Arco Vara Kinnisvarabüroo AS and Arco Imoti EOOD units for €300,000.

The Estonia-based real estate company said St Elmar Invest OÜ and OÜ River Kinnisvara acquired Arco Vara Kinnisvarabüroo in equal parts, while Arco Imoti was bought by Evgeni Plamenov Vasilev.

As of Jan. 1, Arco Vara Kinnisvarabüroo and Arco Imoti have a right to provide real estate brokerage and evaluation services under Arco Vara trademark, Arco Vara said in a release. It also said that the companies' separation from the group will not have a substantial effect on its profit.