BR Malls Scoops up Portfolio

BR Malls Scoops up Portfolio

Brazil M&A

BR Malls has agreed to purchase control of a shopping mall portfolio in the State of Parana for BRL791m ($504m). The shopping mall developer is buying 70% of Alvear Participacoes, a holding vehicle for two existing malls and two projects to be built. The price includes BRL511m for the operating Cataui Londrina and Catuai Maringa centers, and BRL262m on the Catuai Londrina and Catuai Cascavel, to be completed in 2012 and 2013. BR Malls also plans to buy BRL19m in unused land. Of the total, BRL334

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