Klépierre agrees on disposal of a €770 mln retail portfolio (NL)

Klépierre announced it has reached a conditional agreement with Wereldhave on the disposal of a portfolio of nine shopping centres located in the Netherlands for a total consideration of €770 mln, a level that is consistent with appraised values.
The portfolio includes convenience and district shopping centres mostly located in cities outside of Randstad, representing a total of approx. 236,000 m² and an estimated annual net rental income contribution of €44 mln on a group share basis.
The transaction is not subject to any financing conditions and is expected to close at the end of the third quarter of 2015, subject to customary conditions precedent, including anti-trust clearance, and completion of Klépierre and Wereldhave works council consultation processes.
Source: Klépierre

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