PARIS (dpa-AFX) - Unibail-Rodamco SE (UNBLF.PK) and Wereldhave have entered into an agreement pursuant to which Wereldhave offers to acquire a portfolio of six non-core shopping centres located in France.
Closing of the transaction is expected to occur before year end 2014.
The total consideration of the proposed transaction amounts to €850 Mn, representing a net initial yield 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.
Copyright RTT News/dpa-AFX