Unibail-Rodamco-Westfield announces the disposal of its stake in the shopping centre Jumbo in Helsinki
01 Mars 2019 - 1:00AM
JCN Newswire (English)
Paris, Amsterdam, Mar 1, 2019 - (ACN Newswire) - On February 28,
2019, Unibail-Rodamco-Westfield (URW) completed the disposal of its
34% stake in the Jumbo shopping centre in Helsinki, Finland, to
current co-owner Elo Mutual Pension Insurance Company. The net
disposal price of EUR248.6 Mn represents a premium to the December
31, 2018, book value and implies a net initial yield of almost
5%.
Jumbo is one of the leading shopping centres in the Helsinki region
with more than 85,000 sqm GLA and over 12 Mn visitors per year.
Following this transaction, URW's Nordics portfolio consists of 5
shopping centres of which 3 flagships. Lars-Ake Tollemark, Regional
Managing Director Nordics for URW, declared: "The success of this
transaction shows the high quality of our assets, their
attractiveness and their liquidity. This disposal will enable us to
concentrate further on strategic assets in the Nordics with
significant re-development and mixed-use opportunities."
Following this transaction, 75% of the EUR3 Bn of disposals
announced in December 2017 have now been completed. The Group
announced on February 13, 2019, that it had increased its disposal
target to a total of EUR6 Bn. EUR3.7 Bn of assets remain to be
disposed of after this transaction.
For further information, please contact:
Investor Relations
Samuel Warwood
Maarten Otte
+33 1 76 77 58 02
Maarten.Otte@urw.com
Media Relations
Tiphaine Bannelier-Suderie
+33 1 76 77 57 94
Tiphaine.Bannelier-Suderie@urw.com
About Unibail-Rodamco-Westfield
Unibail-Rodamco-Westfield is the premier global developer and
operator of flagship shopping destinations, with a portfolio valued
at EUR65.2 Bn as at December 31, 2018, of which 87% in retail, 6%
in offices, 5% in convention & exhibition venues and 2% in
services. Currently, the Group owns and operates 92 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 3,700 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 EUR11.9 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.
For more information, please visit www.urw.com
Visit our Media Library at https://mediacentre.urw.com
Follow the Group updates on Twitter @urw_group, Linkedin
@Unibail-Rodamco-Westfield and Instagram @urw_group
20190228 Jumbo: http://hugin.info/136618/R/2236899/881099.pdf
Source: UNIBAIL-RODAMCO SE
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