Sonae Sierra is currently 50% owned by Sonae and 50% owned by Grosvenor. The agreement foresees the acquisition of 20% of the capital for the estimated value of €255 million, through which Sonae now controls 70% of the company.
According to the company's statement, this operation, still subject to the evaluation and approval of the competition authorities, will "allow Sonae to strengthen its position and influence in a leading company in its sector", as well as to increase "the international profile of the group”.
Sonae Sierra currently manages 46 shopping centers in Europe and South America, with a total of 1.9 million m2 of GLA and a market value of €7,000 million. It is present in 12 countries and adds more than 438 million visits.