Find in the news:
BY COUNTRY

Klépierre to purchase Dutch rival in $9.7bn deal



Klépierre of France has entered a conditional agreement to purchase Corio, its Dutch rival, in a deal that would make them the largest retail shopping center owner in Europe.

Corio, a real estate investment trust, will be valued at €7.2bn ($9.7bn) in this all-stock deal.  Klépierre is seeking to obtain 100% of the outstanding Corio shares by an offer to the shareholders.  The joint company will own 182 shopping centers in 16 European countries, worth around €21bn.  If the companies had amalgamated during 2013, it would have shown a rental net income in excess of €1.2bn.

Klépierre to purchase Dutch rival in $9.7bn deal.jpgThe deal should be completed during the first quarter of 2015 and recommendations to shareholders from both boards are to accept the offer. The transaction is supported by the main shareholders in both companies.   APG has agreed to tender its 30.6% share in Corio to Klépierre. Corio shareholders will receive 1.14 shares of Klépierre for each of their Corio shares.  This implies a price of €41.40 for each Corio share based on Klépierre’s closing price Monday.  On Monday, Corio’s shares closed at €35.84.

Once completed, the deal will add Germany, Turkey and the Netherlands to Klépierre’s portfolio and boost its Iberian, Italian and French holdings.  The company is expecting to gain annual cost savings of around €50m within three to five years of this deal.  The new company which has not yet been named may list its shares on Euronext in Amsterdam and Paris.



More about shopping malls in France



TODAY, USA:
Kohl’s is adding free returns for Amazon customers in 82 stores.
Sep 22, 2017, United Kingdom:
The software giant has announced plans to open a flagship in London on Regent Street.
Sep 21, 2017, United Kingdom:
The American brand will launch its first full-price standalone store outside London.
Sep 20, 2017:
What changes can we expect in shopping malls and retail shops in the near future?
Sep 20, 2017, Netherlands:
Multi Netherlands kicks off the major city center project in Rotterdam.
Sep 19, 2017, United Kingdom:
L&G has announced a £10 million increase in its investment of The Grafton Cambridge.


Shoptalk banner
Friend
and Follow
Mall of Tripla GLA:914 932 SF
ADDRESS: Veturitie 13
Finland . Helsinki
Mall of Tripla
Designer Outlet Provence GLA:269 098 SF
ADDRESS: Mas de la Peronne, Miramas, France
France . Miramas
Designer Outlet Provence
Mall of Qatar GLA:1 743 753 SF
Qatar . Doha
Mall of Qatar
Dania Pointe GLA:975 000 SF
ADDRESS: 292-344 North Bryan Road, Dania Beach, FL 33004
USA . Fort Lauderdale
Dania Pointe


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us