Paris, Amsterdam, Oct 31, 2018 - (ACN Newswire) - On October 30, 2018, Unibail-Rodamco-Westfield entered into an agreement with Globalworth Poland, a listed Polish property company, for the sale of Skylight and Lumen office buildings in Warsaw. The total acquisition cost of EUR190.0 represents a premium to the book value as at June 30, 2018.
This transaction is subject to standard conditions precedent and is expected to close by year-end.
The Skylight and Lumen office buildings with a GLA of 45,500 m2 are located in the central business district of Warsaw.
The transaction is part of the EUR3 Bn European disposal programme to be executed over the next several years announced by Unibail-Rodamco-Westfield on December 12, 2017. More than 62% of this programme has now been agreed or completed since June 30, 2018. The expected impact of this transaction was taken in account in the Adjusted Recurring Earnings per Share guidance of the Group released on October 25, 2018.
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Unibail-Rodamco-Westfield is the premier global developer and operator of flagship shopping destinations, with a portfolio valued at EUR63.7 Bn as at June 30, 2018, of which 86% in retail, 8% in offices, 5% in convention & exhibition venues and 1% in services. Currently, the Group owns and operates 97 shopping centres, including 56 flagships in the most dynamic cities in Europe and the United States. Its centres welcome 1.2 billion visits per year. Present on 2 continents and in 13 countries, Unibail-Rodamco-Westfield provides a unique platform for retailers and brand events, and offers an exceptional and constantly renewed experience for customers.
With the support of its 3,700 professionals and an unparalleled track-record and know-how, Unibail-Rodamco-Westfield is ideally positioned to generate superior value and develop world-class projects. The Group has the largest development pipeline in the industry, worth EUR12.5 Bn.
Unibail-Rodamco-Westfield distinguishes itself by its Better Places 2030 agenda, that sets its ambition to create better places that respect the highest environmental standards and contribute to better cities.
Unibail-Rodamco-Westfield stapled shares are listed on Euronext Amsterdam and Euronext Paris (Euronext ticker: URW), with a secondary listing in Australia through Chess Depositary Interests. The Group benefits from an A rating from Standard & Poor's and from an A2 rating from Moody's.
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20181030 URW PR - Signing Skylight Lumen EN: http://hugin.info/136618/R/2223167/871147.pdf
Oct 31, 2018 09:00 HKT/SGT
Topic: Press release summary
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