Unibail-Rodamco buys interest in German shopping centres‎

Ruhr-Park is one of the largest shopping centre in Germany7 with 110,629 m² and is centrally located in the largest and among the most densely populated area of Germany.

The transactions are expected to close during the third quarter of 2012, subject to confirmatory due diligence and customary closing conditions. The “mfi AG” and Ruhr-Park acquisitions are expected to be immediately accretive to the Group’s recurring net earnings per share. They will be initially consolidated under the equity method. Unibail-Rodamco will finance the acquisitions from existing bank facilities.

Guillaume Poitrinal, Chairman of the Management Board and CEO of Unibail-Rodamco, said: “This transaction represents an exceptional opportunity to penetrate one of the largest and most attractive property markets in Europe. The synergies between “mfi AG”’s growing German portfolio and great management skills and Unibail-Rodamco’s know-how and international presence should deliver outstanding returns.”

Created in 1968, Unibail-Rodamco SE is Europe’s leading listed commercial property company, with a presence in 12 EU countries, and a portfolio of assets valued at €25.9 billion on December 31, 2011. 

Unibail-Rodamco