SAO PAULO, Aug. 14, 2012 /PRNewswire/ -- GENERAL SHOPPING BRASIL S.A. [BM&FBovespa: GSHP3], one of the largest shopping mall companies in Brazil, announces Material fact about Acquisition of SHOPPING BONSUCESSO mall.
GENERAL SHOPPING BRASIL S.A., a publicly traded company with principal place of business at Avenida Angelica No. 2.466, conjunto 221, in the city and state of Sao Paulo, enrolled with the CNPJ corporate taxpayers' registry under No. 08.764.621/0001-53 informs hereby to the shareholders and the market in general, as pursuant to the terms of CVM Ruling No. 358/02, that through its subsidiary Securis Administradora e Incorporadora Ltda, it entered into a binding agreement for the acquisition of the entirety of the shares of the companies holding 100% of the property of the SHOPPING BONSUCESSO mall, located in the region of Pimentas on the avenue connecting the city of Guarulhos to the district of Sao Miguel Paulista in the city of Sao Paulo, with a gross leasable area (GLA) of 24,437 m2 and a land area of 87,932 m2.
The payment of such acquisition will be executed through direct payment to the sellers and debt assumption, totaling the overall value of R$ 130,000,000.00 (one hundred and thirty million reais) with an internal non-leveraged and real return rate of 11.6% per year.
Following the acquisition, the Company also plans to restate its cash flow with financing of up to 60% on the amount paid with a total term of 10 years.
With this acquisition, GENERAL SHOPPING BRASIL S.A. increases its own and total GLA by 24,437 m2 totaling 255,073 m2 of own GLA and 312,950 m2 of total GLA in 16 shopping centers in operation.
Phone:+ 55 11-9684-16491
Email: [email protected]
SOURCE GENERAL SHOPPING BRASIL S.A.