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Klépierre — M&A Activity 2013
Dec 2, 2013
1464_iss_2013-12-02_ed4cc470-a261-439b-be9e-2458f76d177e.pdf
M&A Activity
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KLEPIERRE ANNOUNCES THE DISPOSAL OF FOUR SHOPPING CENTERS IN NORWAY
Paris - December 2, 2013
Klépierre today announces that Steen & Strøm, its 56.1% controlled subsidiary, has completed the sale of four shopping centers located in Norway – Halden Storsenter (Halden, 9,214 sq.m.), Torvbyen (Fredrikstad, 13,593 sq.m.), Stovner Senter (Oslo, 37,699 sq.m.) and Markedet (Haugesund, 9,871 sq.m.) – for a total consideration of 247 million euros1 (MNOK 2 063).
These four centers have been acquired by Sektor Portefølje II AS, an investment vehicle owned by Partners Group managed entities (75%), -Sektor Gruppen AS (15%) and Steen & Strøm AS (10%). Steen & Strøm's residual stake in these four centers should not be considered a long-term investment.
Rents on these four shopping centers for the first nine months of 2013 represented 1.8% of Klepierre rents total share for the same period.
This portfolio disposal is part of Klépierre's asset rotation strategy to enhance the overall portfolio profile. The transaction also releases financial capacity for Steen & Strøm to fund the future targeted development projects that are planned to be realized in Norway, Sweden and Denmark in the coming years.
1 Foreign exchange rate as of November 29, 2013
AGENDA
February 3, 2014 2013 Full year results (press release after market close)
ABOUT KLEPIERRE
A leading shopping center property company in Europe, Klépierre combines development, rental, property and asset management skills.
Its portfolio is valued at 16.2 billion euros on June 30, 2013 and essentially comprises large shopping centers in 13 countries of Continental Europe. Klépierre holds a controlling stake in Steen & Strøm (56.1%), Scandinavia's number one shopping center owner and manager.
Klépierre's largest shareholders are Simon Property Group (28.9%), world leader in the shopping center industry, and BNP Paribas (21.9%).
Klépierre is a French REIT (SIIC) listed on Euronext ParisTM and is included into the SBF 80, EPRA Euro Zone and GPR 250 indexes. Klépierre is also included in several ethical indexes – DJSI World and Europe, FTSE4Good, STOXX® Global ESG Leaders, ASPI Euro Zone, Euronext Vigeo Eurozone 120 – and is a member of both Ethibel Excellence and Ethibel Pioneer investment registers. Klépierre is also ranked as a Green Star by GRESB (Global Real Estate Sustainability Benchmark). These distinctions mark the Group's commitment to a voluntary sustainable development policy.
For more information, visit our website: www.klepierre.com
CONTACTS
Vanessa FRICANO – +33 1 40 67 52 24 – [email protected] Julien ROUCH – +33 1 40 67 53 08 – [email protected]
Isabelle LAURENT (Media) – + 33 1 53 32 61 51 / +33 6 42 37 54 17 – [email protected]
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This press release is available on Klépierre's website: www.klepierre.com