With an eye on approval of the merger with BR Malls, Aliansce Sonae starts trading assets
Aliansce Sonae is already seeking buyers for some of its assets in order to obtain approval from shareholders and the Administrative Council for Economic Defense (Cade) for the merger with BR Malls.
In an earnings conference call, the president of Aliansce Sonae, Rafael Sales, avoided giving details about the negotiations, but stated that the assets to be sold are those that are not the “core” of the operation, that is, those that are not the most important. .
“We have already identified some Aliansce assets that will generate ‘overlap’ [sobreposição] and that we are willing to sell, obviously the ‘non-core'”, he said, noting that there is little overlap with BR Malls’ assets, which should mean that, if approved at a meeting, the merger will be valued at around six months by Cade. “But, of course, it could be a longer time”, he pondered, explaining that the conversion of shares can only happen after the approval of the regulatory body.
According to Sales, real estate funds continue to have an appetite for shopping mall assets, although this demand is not equal to the 2% Selic period. “We also have conversations with other profiles [de investidores].”
Source: Valor Investe