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Sonae Sierra confirms talks of possible combination with Aliansce Shopping

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Sonae Sierra confirms talks of possible combination with Aliansce Shopping

Sonae Sierra Brasil SA confirmed a July 4 report from ValorPro that the company is negotiating a business combination Aliansce Shopping Centers SA.

Sonae Sierra said no offer or agreement has been signed as of the same date, and that there is no assurance that such a transaction may occur.

Aliansce also confirmed the negotiations in a separate same-day release, but said that no binding deal, offer or proposal has been made.

Both companies are shopping center-focused developers based in Brazil.