Paris, Amsterdam, March 6, 2020
Unibail-Rodamco-Westfield (URW) signs binding agreement to form a strategic partnership with Crédit Agricole Assurances and La Française on a €2.0 Bn portfolio of five French shopping centres
Pursuant to the announcement made on February 12, 2020, that URW had received binding offers from Crédit Agricole Assurances and La Française (collectively, the Consortium) and had granted the Consortium an exclusivity period for the acquisition of a 54.2% stake in a Joint Venture that will own Aéroville, So Ouest, Alma, Toison d’Or and Confluence, URW announces that it has obtained the unanimous positive opinion of its works council and has signed a binding agreement with the Consortium.
The transaction remains subject to customary conditions precedent and is expected to close towards the end of Q2-2020.
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+33 1 76 77 58 02
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Unibail-Rodamco-Westfield is the premier global developer and operator of Flagship destinations, with a portfolio valued at €65.3 Bn as at December 31, 2019, of which 86% in retail, 6% in offices, 5% in convention & exhibition venues and 3% in services. Currently, the Group owns and operates 90 shopping centres, including 55 Flagships in the most dynamic cities in Europe and the United States. Its centres welcome 1.2 billion visits per year. Present on 2 continents and in 12 countries, Unibail-Rodamco-Westfield provides a unique platform for retailers and brand events, and offers an exceptional and constantly renewed experience for customers.
With the support of its 3,600 professionals and an unparalleled track-record and know-how, Unibail-Rodamco-Westfield is ideally positioned to generate superior value and develop world-class projects. The Group has a development pipeline of €8.3 Bn.
Unibail-Rodamco-Westfield distinguishes itself by its Better Places 2030 agenda, that sets its ambition to create better places that respect the highest environmental standards and contribute to better cities.
Unibail-Rodamco-Westfield stapled shares are listed on Euronext Amsterdam and Euronext Paris (Euronext ticker: URW), with a secondary listing in Australia through Chess Depositary Interests. The Group benefits from an A rating from Standard & Poor’s and from an A2 rating from Moody’s.
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