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Carrefour SA to acquire 127 shopping malls from Klepierre

Monday, 16 Dec 2013 01:30am EST 

Carrefour SA:Signs a memorandum of understanding with Klepierre to acquire 127 shopping malls.Aims to create a company that will include 172 shopping malls originating from the acquisition from Klepierre for 2 billion euros of 127 sites in France, Spain and Italy and the contribution by Carrefour of 45 shopping malls in France with a value of 0.7 billion euros.Says the new company would hold over 800,000 square meters of retail space, assets of 2.7 billion euros and a value-creating renovation and extension plan.Says the company will be financed through 1.8 billion euros in equity, 42 percent held by Carrefour with the remainder held by institutional investors, as well as through 900 million euros in debt.Says the transaction, which remains subject to final agreement between the parties and the approval of the relevant regulatory authorities, will be submitted for consultation to employee representative bodies and should close in the first half of 2014. 

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31 Jul 2015