Klepierre announced the closing of the acquisition of RomaEst, one of the largest malls in Rome. With a 10 million footfall, it is the 6th most visited centre in Italy. Strategically located in a catchment area of 2.2m consumers, this 97,000m2 GLA scheme is one of the leading retail and entertainment destinations in Italy with 214 national and international banners like Inditex, Primark, JD Sports, Sephora, New Yorker, Mango, H&M.
This is Klepierre’s second external growth transaction of the year and a further stage of the Group’s strategy to strengthen the portfolio while generating additional net cash flow.
Concurrently with this acquisition and assuming Klepierre’s capacity to make further opportunistic acquisitions with high cash returns, S&P has increased Klepierre’s outlook from stable to positive. At the same time, S&P has revised upwards its assessment of Klepierre’s liquidity profile, from ‘Adequate’ to ‘Strong’.
On May 24, 2024, Fitch confirmed its ‘A-’ rating with a stable outlook on Klepierre’s senior unsecured debt.
Image source - Pexels.
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