Return to search

BR Malls rebuffs CPPIB-backed Aliansce merger bid: Reuters

Brazil’s BR Malls remains open to discussing a potential merger or takeover after rejecting an offer from smaller rival shopping mall operator Aliansce Sonae, Reuters reported.

Brazil’s BR Malls remains open to discussing a potential merger or takeover after rejecting an offer from smaller rival shopping mall operator Aliansce Sonae, Reuters reported. Aliansce proposed a merger that would give BR Malls shareholders 50 percent of the new company plus a 1.35 billion reais ($244) cash payment. Aliansce is backed by the Canada Pension Plan Investment Board.

Source: Reuters