Klepierre annuncia la dismissione di un portafoglio di nove shopping centers per 770 milioni di euro in Olanda

Klépierre  announced it has reached a conditional agreement with Wereldhave on the disposal of a portfolio of nine shopping centers[1] located in the Netherlands for a total consideration of 770 million euros,[2] a level that is consistent with appraised values. The portfolio includes convenience and district shopping centers mostly located in cities outside of Randstad, representing a total of approximately 236,000 sq.m and an estimated annual net rental income contribution of 44 million euros[3] on a group share basis.

The transaction is not subject to any financing conditions and is expected to close at the end of the third quarter of 2015, subject to customary conditions precedent, including anti-trust clearance, and completion of Klépierre and Wereldhave works council consultation processes.

Laurent Morel, Chairman of Klépierre’s Executive Board, commented: “This transaction is a clear delivery on Klépierre’s asset rotation strategy post-merger with Corio and demonstrates the liquidity and value of our portfolio. It immediately refocuses Klépierre’s Dutch portfolio on two of the most dynamic cities in the Netherlands, Rotterdam and Utrecht, which will become more attractive with the ambitious re-development of Hoog Catharijne. The disposal of this portfolio releases additional financial capacity to fund future growth in our preferred regions of Continental Europe, through the development of our quality pipeline, and selective opportunistic acquisitions of prime shopping destinations.”

Following the transaction, Klépierre’s Dutch portfolio, refocused on cities in the affluent Randstad region, will represent a total value of 1 billion euros (as of December 31, 2014). This divestment is expected to result in net cash proceeds to Klépierre of 695 million euros (group share), which would first be mostly used to reimburse outstanding debt.

Assuming it is completed as planned, the divestment is expected to have a limited impact on the net current cash flow for 2015. Accordingly, Klépierre maintains its net current cash flow per share guidance for fiscal year 2015.

Source : Company

Testata giornalistica non registrata ai sensi dell’Art.3 bis del D.L. 18 maggio 2012, n. 63 convertito in Legge 16.07.2012 n°103

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