Unibail Rodamco finalises retail sale

Dutch-French property group Unibail Rodamco has finalised its agreement to sell retail property worth €741m to investment company IEF Capital, reports news agency ANP on Thursday.

The divestment is part of the group’s strategy to concentrate on large-scale assets in key European cities.
IEF Capital bid €70 per share for Dutch property company VastNed Retail in November 2007 a move which VastNed dismissed. In April the company was forced by its shareholders to reopen discussions with IEF. The offer values VastNed at €1.15bn.

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