Iguatemi Board approves sale of stakes in shopping malls and developments
Iguatemi's board of directors approved this Monday the sale of shares in shopping centers and developments totaling R$500 million, according to the minutes of the board meeting released to the market.
According to the document, the board approved the sale of a 49% stake in Shopping Market Place, Edifício Market Place Towers, both in the city of São Paulo, and Galleria Shopping, in Campinas (SP), for approximately R$468 million in total.
The meeting also gave approval for the transfer of a 24% share in the future project to be built in the Market Place Complex, for R$35 million, and 16.7% of the share in the project to be built in the Galleria Complex, for R$14.9 million.
Iguatemi, which did not reveal with whom it signed the agreement, had informed in April about the signing of a memorandum of understanding for the sale of these shares.
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