Merger that creates the most important group of malls within the nation receives the inexperienced mild from Cade with out restriction

The Administrative Council for Economic Defense (Cade) approved without restrictions, this Thursday, the merger between Aliansce Sonae and BR Malls.

This was one of the last bureaucratic obstacles to an operation that will create the largest group of malls in the country, with almost R$ 12 billion in market value and 69 units in the portfolio, such as Shopping Leblon and Norteshopping

With the endorsement, the companies expect the transaction to be completed in January.

To avoid restrictions imposed by Cade, Aliansce Sonae anticipated and disposed of assets that it judged to be “problematic” for the operation. It sold, for example, its stakes in Boulevard Londrina Shopping (PR), Boulevard Shopping Vila Velha (ES) and Uberlândia Shopping (MG).

Source: The Globe