BR Malls Buys Bahia Mall

BR Malls Buys Bahia Mall

Brazil M&A

Brazilian property developer BR Malls announced Friday it acquired a 95% stake in Shopping Paralela in the state of Bahia. The price paid for the mall and administration is BRL237.5 million, of which 40% will be paid in cash and the remainder in four equal annual installments, adjusted by IPCA. The acquisition also involves the payment of BRL47.5m for 95% of the parking operation, and it will be paid in the same format as the acquisition of the mall. BR Malls announced Monday that the proceeds o

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