Multiplan announces interest in acquiring stake in ParkShoppingBarigüi

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The deal is valued at R$ 91.0 million

Multiplan announced on January 9 it has expressed interest in exercising the right of first refusal to acquire the ownership interest of one of the partners of ParkShoppingBarigüi, corresponding to 9.33%, for R$ 91.0 million. Multiplan currently owns an 84.0% stake in ParkShoppingBarigüi.

The Net Operating Income ("NOI") for the stake to be acquired for the last twelve months to September 2016 was R$ 7.2 million, without considering the amounts referring to the assignment of preemptive rights.

About ParkShoppingBarigüi - Opened in 2003, ParkShoppingBarigüi became a benchmark mall in the state of Paraná due to its complete and diverse mix. Total sales for the 12 months to September 2016 were R$ 914.2 million, an increase of 5.9% over the same period ended in September 2015, while satellite store sales were R$ 26,993/m² in same period. At the end of September 2016, the shopping center registered an occupancy rate of 97.8% of its GLA.

After two expansions, including a ​​restaurant area called ParkGourmet, ParkShoppingBarigüi currently has a gross leasable area (GLA) of 52,243 m². The mall has potential for future expansion and Multiplan owns a plot adjacent to ParkShoppingBarigüi that could be developed for mixed-use projects integrated with the shopping center.