June 7, 2019 / 5:34 AM / 3 months ago

BRIEF-Sonae Says Sonae Sierra Brazil To Merge With Aliansce

June 7 (Reuters) - SONAE SGPS SA:

* SAID ON THURSDAY SONAE SIERRA BRASIL REACHED AGREEMENT TO MERGE WITH ALIANSCE SHOPPING CENTERS

* TRANSACTION WILL CREATE LARGEST SHOPPING CENTRE OPERATOR IN BRAZIL, THROUGH COMBINATION OF TWO COMPLEMENTARY PORTFOLIOS WITH A TOTAL OF 40 SHOPPING CENTRES

* SONAE SIERRA AND ALIANSCE ESTIMATE SYNERGIES RESULTING FROM IMPLEMENTATION OF MERGER IN R$ 55 MILLION TO R$ 70 MILLION PER YEAR

* MANAGEMENT OF SONAE SIERRA ESTIMATES EXPENSES OF CARRYING OUT TRANSACTION FOR SONAE SIERRA SHALL BE OF ABOUT R$ 32 MILLION

* SHAREHOLDERS OF ALIANSCE WILL OWN 67.90% OF COMBINED COMPANY SHARE CAPITAL

* SONAE SIERRA SHAREHOLDERS WILL OWN 32.10% OF COMBINED COMPANY SHARE CAPITAL

Source text: bit.ly/2I0g95K

Further company coverage: (Gdynia Newsroom)

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