PARIS, July 29 French shopping mall operator
Klepierre has agreed to buy Corio in a deal
it said creates Europe's leading pure-play retail property
company, valuing the Dutch real estate group at an enterprise
value of 7.2 billion euros ($9.7 billion).
Klepierre is offering 1.14 shares for each Corio share,
implying a 15.6 percent premium on Corio's share price on
Monday, the companies said in a joint statement. Shares in both
stocks were suspended on Tuesday.
The deal will boost earnings from the first year, with
potential combined savings of 60 million euros, the companies
said, creating a group with a stock market value of over 10
billion euros ($13 billion)
(1 US dollar = 0.7445 euro)
(Reporting by James Regan; Editing by Andrew Callus)