UNIBAIL-RODAMCO SE enters into an agreement with Wereldhave to dispose a ?850 Mn portfolio of six shopping centres in France
(Thomson Reuters ONE) -
Paris, Amsterdam, October 16, 2014
Press Release
Unibail-Rodamco SE enters into an agreement with Wereldhave to dispose a ?850 Mn
portfolio of six shopping centres in France
Unibail-Rodamco and Wereldhave have entered today into an agreement pursuant to
which Wereldhave offers to acquire a portfolio of six non-core shopping centres
located in France, including:
+------------------+------------+--------------+------------------+------------+
|Shopping Centre |City/Region | Complex GLA| Unibail-Rodamco| Number of|
| | | (m²)| consolidated GLA| visits in|
| | | | (m²)| 2013 (Mn)|
+------------------+------------+--------------+------------------+------------+
|Rivétoile |Strasbourg | 28,400| 28,400| 5.8|
+------------------+------------+--------------+------------------+------------+
|Docks 76 |Rouen | 37,600| 37,600| 4.0|
+------------------+------------+--------------+------------------+------------+
|Saint Sever |Rouen | 45,400| 34,400| 9.8|
+------------------+------------+--------------+------------------+------------+
|Meriadeck((1)) - |Bordeaux | 39,500| 32,400| 12.7|
|Passages Meriadeck| | | | |
+------------------+------------+--------------+------------------+------------+
|Côté Seine |Paris region| 28,900| 16,200| 5.8|
+------------------+------------+--------------+------------------+------------+
|Docks Vauban |Le Havre | 53,500| 53,500| 5.4|
+------------------+------------+--------------+------------------+------------+
The total consideration((2)) of the proposed transaction amounts to ?850 Mn,
representing a net initial yield((3)) of 5.5% and an average value per m² of
?4,200/m².
Further to this agreement, Unibail-Rodamco has granted Wereldhave an exclusivity
period ending on November 10, 2014, during which Unibail-Rodamco's work council
will be consulted. The signing of the final and binding documentation is
expected to occur in November 2014.
Closing of the transaction is expected to occur before year end 2014 and is
subject to customary conditions precedent, including regulatory approvals and
Wereldhave's shareholders approval.
"Unibail-Rodamco is pleased to have reached an agreement with Wereldhave, a
party which, as a specialist in mid-sized shopping centres, will be able to
manage these malls to their full potential. This transaction, part of the
disposal programme of retail assets announced in February this year, will allow
the Group to continue to sharpen its focus on large regional shopping centres."
Christophe Cuvillier, CEO and Chairman of the Management Board
For further information, please contact:
Investor Relations
Pierre-Marie Battesti
+33 1 76 77 56 97
Media Relations
Pauline Duclos-Lenoir
+33 1 76 77 57 94
About Unibail-Rodamco
Created in 1968, Unibail-Rodamco SE is Europe's largest listed commercial
property company, with a presence in 12 EU countries, and a portfolio of assets
valued at ?33.6 billion as of June 30, 2014. As an integrated operator, investor
and developer, the Group covers the whole of the real estate value creation
chain. With the support of its 1,550 professionals, Unibail-Rodamco applies
those skills to highly specialised market segments such as large shopping
centres in major European cities and large offices and convention & exhibition
centres in the Paris region.
The Group distinguishes itself through its focus on the highest architectural,
city planning and environmental standards. Its long term approach and
sustainable vision focuses on the development or redevelopment of outstanding
places to shop, work and relax. Its commitment to environmental, economic and
social sustainability has been recognised by inclusion in the DJSI (World and
Europe), FTSE4Good and STOXX Global ESG Leaders indexes.
The Group is a member of the CAC 40, AEX 25 and EuroSTOXX 50 indices. It
benefits from an A rating from Standard & Poor's and Fitch Ratings.
For more information, please visit our website: www.unibail-rodamco.com
--------------------------------------------------------------------------------
((1)) Meriadeck owned at 61% and fully consolidated (conso. GLA shown at 100%).
Passages Meriadeck owned at 100%
((2)) Asset values at 100%, including transfer taxes and transaction costs.
Final consideration subject to the establishment of the completion accounts
((3)) Annualised portfolio contracted rent (including latest indexation and
including a one-year rental guarantee) net of expenses, divided by the asset
values
Unibail-Rodamco - ?850 Mn disposal to Wereldhave:
http://hugin.info/136618/R/1863340/653854.pdf
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Source: UNIBAIL-RODAMCO SE via GlobeNewswire
[HUG#1863340]
Unternehmensinformation / Kurzprofil:
Datum: 16.10.2014 - 07:43 Uhr
Sprache: Deutsch
News-ID 344435
Anzahl Zeichen: 6279
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