General Shopping Brasil Increases Ownership Interest in Outlet Premium Sao Paulo

Jun 11, 2010, 18:32 ET from General Shopping Brasil S/A

SAO PAULO, June 11 /PRNewswire-FirstCall/ -- GENERAL SHOPPING BRASIL S/A, a publicly-held company headquartered in the city of Sao Paulo, State of Sao Paulo, at Avenida Angelica, 2466, suite 221, enrolled with the General Taxpayer's Register (CNPJ/MF) under number 08.764.621/0001-53, pursuant to Instruction CVM no. 358/02, as amended, informs its shareholders and the market at large that it acquired on this date through its controlled company BR OUTLET ADMINISTRADORA E INCORPORADORA LTDA for R$ 15,145,363.28 (fifteen million, a hundred and forty-five thousand, three hundred and sixty-three real and twenty-eight cents) a 20% interest in OUTLET PREMIUM SAO PAULO.

OUTLET PREMIUM SAO PAULO is a project developed and managed by GENERAL SHOPPING BRASIL S/A and is strategically located on Rodovia dos Bandeirantes, km 72, in the State of Sao Paulo, with total gross leasable area (GLA) of 17,716 square meters, in which GENERAL SHOPPING BRASIL S/A now owns a 50% interest and owned GLA of 8,858 square meters.

With this increase in ownership interest, GENERAL SHOPPING BRASIL S/A's owned GLA has been increased to 190,100 square meters, ensuring a majority ownership interest in all of the 13 shopping malls in operation of its portfolio.

SOURCE General Shopping Brasil S/A