Aliansce And Sonae Sierra Brasil Announce Merger
New company will be the largest in the country in number of malls under management
RIO DE JANEIRO, June 6, 2019 /PRNewswire/ -- Aliansce Shopping Centers (B3: ALSC3) and Sonae Sierra Brasil (B3: SSBR3) announce the conclusion of the agreement on potential merger of their activities. The union will result in the largest company in the country, in number of shopping malls under management: Aliansce Sonae Shopping Centers S/A. The new company will remain listed in the Novo Mercado segment of B3.
The controlling block of the combined company will be composed of four main shareholders: CPPIB (Canada Pension Plan Investment Board), Renato Rique, OFO (Otto Group) and Sonae Sierra SGPS. The final stake will be 67.90% for Aliansce's shareholders Aliansce and 32.10% for Sonae Sierra Brasil's shareholders.
The possible merger guarantees a geographically complementary portfolio with 40 malls, being 29 owned and 11 managed third-party. The portfolio will be the second largest in the Brazilian shopping mall sector in terms of Gross Leasable Area (GLA), with a total managed GLA of approximately 1.4 million sqm and around 7 thousand stores.
With the completion of the transaction, Renato Rique will be the Chairman of the Board of Directors, Rafael Sales will be the CEO and José Baeta Tomás, Director of Integration.
"The combination of the two businesses should result in a company with even stronger strategic positioning, which, combined with the synergies, will allow us to offer even more special experiences to our consumers. We intend to generate value in the long term for our tenants and business partners, as well as offer great growth opportunities for our employees, "says Renato Rique, Chairman and CEO of Aliansce.
"Strengthening investments in quality of services, complementarity of portfolios, innovation capacity and the presence of specialists in the business will generate opportunities and achievements throughout the country," said José Baeta Tomás, CEO of Sonae Sierra Brasil.
The completion of the operation is subject to approval by the Brazilian Antitrust Authority (CADE) and its closure is expected to occur by 2019. Until then, the companies will remain separate and independent.
Aliansce will hold its conference call and webcast on June 7, at 12:00 pm ET / 01:00 pm BRT, at +1 646 828-8246 / +55 (11) 3193-1001, code "Aliansce". The webcast is available at http://ri.aliansce.com.br.
For more information, contact Daniella Guanabara, IRO, (21) 2176-7272 or [email protected]
SOURCE Aliansce Shopping Centers S.A.
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