Iguatemi (IGTI11) completes acquisition of Shopping Center Rio Sul; see details – Money Times


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The contract, signed in July, followed an investment agreement between Iguatemi and Combrashop. (Image: Kaype Abreu/Money Times)

A Iguatemi (IGTI11) informed shareholders, this Tuesday (17), that it has completed the process of acquiring the stake no Shopping Center Rio Sullocated in Rio de Janeiro.

The contract, signed in July, followed an investment agreement between Iguatemi and Combrashop. The operation was worth around R$360 million, 70% of which was paid in cash. According to Iguatemi itself, the investment generates a return of 7.7% on the estimated profit for 2024.

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The agreement also includes a partnership with the BB Premium Malls fund (BBIG FII), through the purchase of Real Estate Receivables Certificates (CRIs).

As a result, Iguatemi now holds 16.6% of Shopping RioSul, Combrashop 50.1%, and BBIG FII will hold 33.3%. In addition, Iguatemi will be the new administrator of the mall.

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