October 09, 2009 09:23 ET

BRMALLS Concludes the Acquisition of 100% of Shopping Metro Santa Cruz

RIO DE JANEIRO, BRAZIL--(Marketwire - October 9, 2009) - BR MALLS PARTICIPAÇÕES S.A. (BOVESPA: BRML3), a publicly-held company with head offices at Avenida Borges de Medeiros, 633, 1 degrees andar, in the city and state of Rio de Janeiro, inscribed in the corporate roll of taxpayers (CNPJ) under no. 06.977.745/0001-91 ("BRMALLS"), hereby announces that on this date it acquired 100% of the company holding the exploration rights of the Shopping Metrô Santa Cruz mall and the exploration rights of the Shopping Metrô Santa Cruz parking lot, through the acquisition of 95% of its shares, previously announced on August 20, 2009, together with the acquisition, at the same time, of the remaining 5%. The transaction totaled R$198,000,000.00 (one hundred and ninety-eight million Brazilian Reais).

As of this date, the revenue from 100% of Shopping Metrô Santa Cruz and from the Metrô Santa Cruz parking operation will be recognized by BRMALLS.

Shopping Metrô Santa Cruz inaugurated in 2001 and is located in the Vila Mariana district of the south side of São Paulo city. The mall has a gross leasable area ("GLA") of 19,270 m2, 127 stores and 1,057 parking spaces, and an estimated 23 million visitors per year. In addition to providing direct access to the subway station, the mall is linked to the adjacent bus terminal and has access to Avenida Domingos de Moraes.

Following the acquisition, BRMALLS' total and own GLA increased from 1.006 million m2 to 1.025 million m2 and from 439.2 thousand m2 to 458.5 thousand m2, respectively. It currently retains stakes in 35 malls.

Contact Information