trending Market Intelligence /marketintelligence/en/news-insights/trending/9mvBEqaNas1lowF43tskLQ2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Blackstone disputes rumors about BR Malls deal

Commercial Real Estate: 2020 Review

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


Blackstone disputes rumors about BR Malls deal

does notintend to acquire a controlling stake in Brazilian mall operator ,Reuters reported April 3, citing an emailed statement from the private equityfirm.

Braziliannewspaper O Globo carried a report onthe same day that Blackstone is considering an acquisition of BR Malls, as ithired JP Morgan Chase & Co. for the purchase of a controlling stake wortharound 12 billion reais.

Withoutciting sources for the deal, the transaction would represent the largestproperty deal in the South American country, O Globo reportedly said.

Blackstonesaid it is "not actively engaged" in talks for the acquisition of BRMalls, according to the statement quoted by Reuters. Spokespersons from BRMalls and JP Morgan Chase declined to comment on the rumored deal.

BRMalls said in aninvestor presentation that it is the largest mall company in Latin America. InOctober 2015, Gazit-Globe Ltd.acquired a 5.16% stake in the shopping center company, which has a portfoliowith 46 shopping centers that span 1.65 million square meters of gross leasablearea and 966,000 square meters of owned gross leasable area, as previouslyreported.

As of April 1, US$1 wasequivalent to 3.57 Brazilian reais.