Franchising, retail, business
26/09/2014
Unibail-Rodamco SE signs a definitive agreement with Carmila to dispose of a €931 million portfolio of six shopping centres in France.
Pursuant to the announcement made on July 30, 2014, and after consultation by the Group and Carmila of their respective work-councils, Unibail-Rodamco announces that it has signed a definitive agreement with Carmila to sell six of the Group’s shopping centres (BAB 2, Bay 1 and Bay 2, Cité Europe, Labège 2 and Place d’Arc).
Terms of the transaction are as announced in July 2014. Closing of the transaction is expected before the end of the year 2014 and is subject to customary conditions precedent.
Unibail-Rodamco is the leading listed real estate company in Europe and the third-largest in the world. Listed on the Paris stock exchange since 1972, today the Group owns an exceptional portfolio of prime commercial properties, to the value of €33.6 billion as at June 30, 2014 located in the largest most prosperous cities across Continental Europe.
Unibail-Rodamco’s operations are deliberately focused on large shopping centres in major European cities, the most prestigious office buildings in the heart and West of Paris and major convention and exhibition venues in and around Paris.
However, Unibail-Rodamco’s strategy goes deeper than the selection of prime assets. The Group chose to vertically integrate the entire chain of value creation in real estate. The combination of its three activities of development, investment and management, enriches the Group with unrivalled market knowledge and reactivity. This expertise enables Unibail-Rodamco to prosper in markets that are cyclical in nature and allows the Group to continue its investment programs in the heart of economic downturns.
lt is thanks to this portfolio of rare, unique and largely unrivalled assets and the talent of 1,500 employees including experts in the business of investment, deve- lopment, leasing, management and divestment, that the Group has been able to achieve an annualised stock market performance of 15% or higher over the past 5, 10 and 15 years.
Unibail-Rodamco is preparing for the future through continued investment across its three sectors of activity. With €7.3 billion to be invested over the next 5 years, its development pipeline is the largest among the listed real estate companies. This investment will allow for the emergence of a new generation of shopping and leisure centres, offices and convention and exhibition venues in the most beautiful capital cities of continental Europe, ensuring for all exceptional living environments.