Multiplan announces acquisition of stake in DiamondMall

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Multiplan announced, on Tuesday, January 21, the conclusion of the acquisition of a 50.1% interest in DiamondMall belonging  to Clube Atlético Mineiro (“CAM”), in Belo Horizonte - MG.

Inaugurated in 1996, DiamondMall was developed on leased land from Clube Atlético Mineiro for a period of 30 years, until November 2026, and has been managed since its opening by Multiplan.

The updated acquisition value is R$ 296.8 million, 10% of the total being paid within 45 days from the date of signing the deed, and the remaining balance in instalments over three years and indexed by the variation of the CDI rate. In addition, the operation contemplates the extension of the lease until November 2030.

About DiamondMall: located in the Lourdes neighborhood, in the South Zone of Belo Horizonte, Minas Gerais, the shopping center historically has presented one of the highest sales volumes in Multiplan's portfolio. In 2019, DiamondMall recorded total satellite store sales of R$ 37,283 per square meter. At the end of 2019, the occupancy rate was 99.2%. Multiplan also holds a proprietary interest in two other shopping centers in Belo Horizonte: BH Shopping and Pátio Savassi.