30 July 2014

Klépierre to take over Corio in European mall push

French listed real estate investment company Klépierre is to acquire the Netherlands’ largest listed property company Corio in an effort to create the leading pure play retail property company in Europe.

The transaction will be completed via a recommended public exchange offer by Klépierre, structured under Dutch laws and regulations, for 100% of the issued and outstanding ordinary shares of Corio. Under the terms of the offer, Corio shareholders will receive 1.14 Klépierre ordinary shares for each Corio ordinary share, valuing Corio at an enterprise value of EUR 7.2 billion based on Klépierre’s share price as of 28 July 2014.

De Brauw Blackstone Westbroek advises Klépierre as Dutch legal counsel, alongside its ‘Best Friend’, French firm Bredin Prat.

 

Lead partners De Brauw:
Arne Grimme and Klaas de Vries.

 

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