The Board of Directors of brMalls had already approved the merger in April 2022. According to both companies' estimations, it should be completed in January 2023. Until completion, the companies will continue to act independently.

This merger of Aliansce Sonae and brMalls will create the largest shopping center manager in Latin America, with 69 assets and around 13,000 stores.

Aliansce Sonae paid R$ 1.25 billion for the transaction, plus 326.3 million shares of the company, representing a replacement of 1 common share of brMalls for every 0.394 ordinary shares of Aliansce Sonae.

What is an ordinary share?

Common shares, also known as ON, are those represented by the number 3 at the end of the ticker (code formed by four capital letters plus a number), for example, ABEV3 (Ambev).Do you want to learn more about malls and monitor the sector's performance? Get to know GROCS, SiiLA's solution that offers exclusive data and analysis of shopping malls throughout Brazil!