Wereldhave acquires 9 shopping centres for € 730 million
Wereldhave makes a defining move on the Dutch market with the acquisition of nine shopping centres for €730
- Wereldhave secures the largest portfolio of shopping centres available on the Dutch market
- Unique opportunity to acquire an attractive portfolio of scale
- Strong strategic fit with our current Dutch portfolio
- Purchase price of €730 million represents a yield of c. 6%1
- Upside potential by leveraging strong Wereldhave retail expertise
- Acquisition is expected to be accretive to target EPS in first full year (2016)
- Transaction to be financed via an equity offering of up to 5,250,000 new ordinary shares and existing debt facilities, with asset disposals targeted over the next 18 months
- Confirm commitment to strong balance sheet with LTV target of 35% - 40% by year end 2016
To read the full press release click here.
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