XP Malls acquires part of Shopping Bahia

The XP Malls Real Estate Investment Fund (FII) announced on Tuesday (4) the signing of a Share Purchase Agreement for the Shopping da Bahia, located in Salvador (BA).
The asset in question is managed by Aliansce Sonae Shopping Centers.

By: SiiLA News

01/06/2022

The Real Estate Investment Fund (FII) XP Malls, managed by XP Vista Management, announced on Tuesday (4), through a material fact, the signing of a Quota Purchase and Sale Agreement for the acquisition of equity interest in Shopping da Bahia, in Salvador (BA). Aliansce Sonae Shopping Centers manage the asset in question.

Also, according to the relevant fact disclosed to the market, the initial participation of XP Malls will be equivalent to 9.05% of Shopping da Bahia. The Manager and Administrator estimate that the financial impact on the Fund's income over the next 12 months will be approximately R$ 11 million, or the equivalent of R$ 0.59/share, considering the number of shares held by the Fund on this date.

The transaction will still go through the approval process of the CADE (Administrative Council for Economic Defense).

Shopping da Bahia, inaugurated in 1975, was one of the first to be built in the country and the first in the Northeast. According to the SiiLA Market Analytics platform data, the project is a class B, with more than 70 thousand sq meters of total private area. The mall has more than 500 occupants, including Centauro, Lojas Americanas, Marisa, and Zara.

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