Grosvenor Group sells 20% stake in Sonae Sierra for €255m

Grosvenor Group sells 20% stake in Sonae Sierra for €255m
Grosvenor Group has agreed to sell 20% of its stake in Sonae Sierra to Sonae SGPS for c.€255m. The transaction will allow Grosvenor to realise capital and provide added firepower to its international property activities, rebalancing and fine-tuning its portfolio in the continued pursuit of the Group’s established international diversification strategy. The transaction is subject to anti-trust approval. Upon this being confirmed, Grosvenor’s stake in Sonae Sierra will reduce to 30% and Sonae’s SGPSs will increase to 70%.


Mark Preston, Grosvenor Group Chief Executive, said: ‘The decision to reduce our shareholding in Sonae Sierra is an important step in the rebalancing of our international property portfolio. We look forward to continuing the strong relationship with Sonae and Sonae Sierra which we have enjoyed for over two decades.’

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