06/28/2024 – 7:10
Syn Prop e Tech (formerly Cyrela Commercial Properties) announced on Thursday night, the 27th, that it had concluded the sale of its stake in six shopping centers to XP Malls for R$1.850 billion.
In a relevant fact sent to the Securities and Exchange Commission (CVM), the company details that the sale involves 51% of Grand Plaza Shopping; 32% of Shopping Cidade São Paulo; 70% of Shopping Metropolitano Barra; 52.5% of Tietê Plaza Shopping; 85% of Shopping Cerrado; and 23% of Shopping D.
Of the total sale value, the company has already received R$ 941,216,916.67 and the balance
The remainder will be paid in a first installment of R$358.783 million in December 2024; and a second installment of R$550 million in December 2025, both adjusted by the CDI.
SYN continues to hold a 60% stake in Cidade São Paulo; 12.87% in Shopping D; 10.41% in Grand Plaza; 10% in Metropolitano Barra; and 10% at Tietê Plaza. Participation in Shopping Cerrado was zeroed.
The company will continue to manage the assets involved in the transaction.
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