Paris, Amsterdam, May 14, 2014
Unibail-Rodamco closes the acquisition of a stake in CentrO in Oberhausen (Germany)
Further to the announcement made on February 13, 2014, and to the regulatory approval granted by the European Commission on May 6, 2014, Unibail-Rodamco has closed the acquisition of a stake in CentrO, Oberhausen. The stake was acquired from Stadium Group, original developer of the asset, while Unibail-Rodamco will enter into a partnership with CPPIB, which also owns a stake in CentrO.
CentrO is one of Germany's largest and most successful shopping centres. The Group's German platform now includes 1.5 Mn m² and 27 malls, of which 20 are managed for third parties by mfi. In addition, mfi plans to deliver the Recklinghausen, Mönchengladbach and Osnabrück developments between H2-2014 and 2016 for an additional 110,000 m² of GLA.
This investment in CentrO will be consolidated under the equity method. It is financed from existing bank lines.
For further information, please contact:
+33 1 76 77 56 97
+33 1 76 77 57 94
Closing of CentrO stake acquisition
Created in 1968, Unibail-Rodamco SE is Europe's largest listed commercial property company, with a presence in 12 EU countries, and a portfolio of assets valued at €32.1 billion as of December 31, 2013. As an integrated operator, investor and developer, the Group aims to cover the whole of the real estate value creation chain. With the support of its 1,500 professionals, Unibail-Rodamco applies those skills to highly specialised market segments such as large shopping centres in major European cities and large offices and convention & exhibition centres in the Paris region.
The Group distinguishes itself through its focus on the highest architectural, city planning and environmental standards. Its long term approach and sustainable vision focuses on the development or redevelopment of outstanding places to shop, work and relax. Its commitment to environmental, economic and social sustainability has been recognised by inclusion in the DJSI (World and Europe), FTSE4Good and STOXX Global ESG Leaders indexes.
The Group is a member of the CAC 40, AEX 25 and EuroSTOXX 50 indices. It benefits from an A rating from Standard & Poor's and Fitch Ratings.
For more information, please visit our website: www.unibail-rodamco.com
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Source: UNIBAIL-RODAMCO SE via Globenewswire