Unibail-Rodamco-Westfield Signs Binding Agreement on EUR1.5 Billion Shopping-Centers Stake Sale
March 09 2020 - 2:40AM
Dow Jones News
By Pietro Lombardi
Unibail-Rodamco-Westfield SE has signed a binding agreement with
Credit Agricole Assurances and La Francaise to form a partnership
on a portfolio of five French shopping centers.
The Amsterdam-listed commercial property company said late
Friday that its works council had given the green light to the
deal, which had been announced in February.
Last month the company said that it would sell a stake in a
portfolio of five shopping centers to Credit Agricole Assurances
and La Francaise for net proceeds of 1.5 billion euros ($1.69
billion), a transaction to be conducted through the creation of a
joint venture owning the Aeroville, So Ouest, Alma, Toison d'Or and
Confluence shopping centers.
The deal is expected to close at the end of the second
quarter.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
March 09, 2020 02:25 ET (06:25 GMT)
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