Aussie Mall Operator Shops in Brazil

Aussie Mall Operator Shops in Brazil

Brazil M&A Australia

Westfield Group has agreed to buy 50% of Brazilian mall operator Almeida Junior Shopping Centers, at a total price of BRL740m ($466m). It is the first entry into EM for the Australian mall operator that counts itself among the world’s largest. The transaction values Almeida at BRL1.48bn, representing an 11.2x Ebitda multiple on first-year forecast earnings, Westfield says. “This is a regional buy, small on a national scale. It doesn’t change the competitive landscape much,” n

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