Listed Dutch property company Wereldhave has completed the acquisition of a €770 mln shopping centre portfolio from Paris-listed peer Klépierre.

Listed Dutch property company Wereldhave has completed the acquisition of a €770 mln shopping centre portfolio from Paris-listed peer Klépierre.

The portfolio comprises nine medium-sized shopping centres in the Netherlands. The deal was originally announced in June this year. The assets were originally owned by Amsterdam-based European shopping centre specialist Corio, which was taken over by Klépierre. The merger closed in March 2015.

'As a result of the transaction [with Wereldhave] Klépierre operates a more cohesive shopping centre portfolio in the Netherlands, refocused on affluent cities in the Randstad region: five assets representing a total value of €1.1 bn,' the French group said.

Klépierre will use the net proceeds of the sale to pay down debt.

De Brauw Blackstone Westbroek advised Klépierre as lead legal counsel in transaction with Wereldhave. Loyens & Loeff was de lead tax counsel. 'In the past year we have advised Klépierre as Dutch counsel on the merger with Corio, alongside Bredin Prat. We are pleased to assist Klépierre again in this transaction, this time as lead counsel,' De Brauw partner Annemieke Wessels said.

See also, Wereldhave acquires Klèpierre/Corio shopping centre portfolio

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