Aliansce Acquires Control of Five Brazil Shopping Malls for $313 Million

Aliansce Shopping Centers SA (ALSC3), Brazil’s fourth-largest mall owner by market value, agreed to buy control of five centers in the states of Rio de Janeiro, Paraiba and Sao Paulo.

The value of the acquisitions is 574.5 million reais ($313.4 million), including 37.5 million reais of assumed debt, according to a regulatory filing yesterday.

Following the deal, Aliansce will own all of Carioca Shopping and Boulevard Campos, as well as 78 percent of Shopping Taboao, 76.6 percent of Boulevard Campina Grande and 89 percent of Caxias Shopping.

Aliansce will use credit lines of as much as 500 million reais from Banco Bradesco SA (BBDC4) to help pay for the purchase.

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