Aliansce, Sonae Sierra agree to merger

Aliansce, Sonae Sierra agree to merger

M&A Equity Brazil Europe

Aliansce Shopping Centers and Sonae Sierra Brasil said they have agreed to merge and create the largest shopping mall company in Brazil. Aliansce's shareholders will own 67.9% of the new company, called Aliansce Sonae Shopping Centers, while shareholders in Sonae Sierra will have the other 32.1%. Canada Pension Plan Investment Board (CPPIB), which owns 38.2% of Aliansce, will become one of the major shareholders with 25.6% of the new company. Germany's Otto Group will have 16.6%, while Aliansc

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