Alianasce Sonae sells share in Brazilian shopping centres

 In News, Shopping Centres

Alianasce Sonae has sold its share in two more shopping centres in Brazil for €55 million after selling 20% of a shopping centre in São Paulo in September.

It is part of an overall deleveraging strategy from Alianasce Sonae Shopping Centres (ALLOS) in Brazil to divest shopping centre assets.
According to a communiqué sent to the Brazilian supervisor on Monday, a memorandum of understanding to sell its total share in Boulevard Shopping Campos in Campos dos Goytacazes, Rio de Janeiro State) and at Santana Parque Shopping (São Paulo) of 75% and 36.7% respectively).
The sale will bring ALLOS 297.9 million reais (€55 million).
ALLOS says that these divestments “strengthen the company’s capacity to undertake transactions that generate value for the shareholder, with the constant search for opportunities to optimise the capital allocation of the company.
In September it offloaded 20% of Plaza Sul Shopping in São Paulo for €120 million reais (€23 million).