Carmila: Signing of an Asset Portfolio Transfer Agreement with Batipart and ATLAND Voisin
BOULOGNE-BILLANCOURT, France–(BUSINESS WIRE)–Regulatory news:
Carmila (Paris:CARM) has entered into an agreement with Batipart and ATLAND Voisin for the creation of a joint venture to acquire a portfolio of assets currently held by Carmila.
The portfolio is made up of 6 assets, all located in France: Mondevillage, Meylan, Mont St Aignan, Nantes St Herblain, Rambouillet and St Jean de Vedas.
The agreed sale price of the portfolio is 150 million euros, duties included. It is in line with the appraisal values at the end of 2021.
Carmila will retain a 20% stake in the joint venture, with an LTV including duties not exceeding 50%, and will provide asset management, leasing and real estate services for the joint venture.
The sale is expected to close in June 2022.
The agreed disposal is the first transaction of the asset rotation program announced during Carmila’s financial market day in December 2021. Carmila is targeting a cumulative amount of disposals of €200m in total in 2022 and 2023 and intends to continue with disposals assets beyond 2023. Proceeds from disposals will fund new investments and share buybacks.
Marie Cheval, Chairman and Chief Executive Officer of Carmila said:
“This is an important step for Carmila as it marks the start of the asset rotation strategy announced on our Capital Markets Day. This agreement demonstrates the liquidity of our assets on favorable terms and the appetite of real estate investors for commercial assets.
April 21, 2022 (after market close): Q1 2022 Financial Information
May 12, 2022: Annual general meeting
Carmila, the third listed retail property company in continental Europe, was founded by Carrefour and major institutional investors to transform and enhance the shopping centers adjoining Carrefour hypermarkets in France, Spain and Italy. As of December 31, 2021, its portfolio is valued at 6.21 billion euros, made up of 214 shopping centers, all leaders in their catchment area.
Carmila is listed on compartment A of Euronext-Paris under the symbol CARM. It benefits from the tax regime applicable to real estate investment companies (“SIIC”).
Some of the statements contained herein are not historical facts but rather statements of future expectations, estimates and other forward-looking statements based on the beliefs of management. These statements reflect opinions and assumptions prevailing as of the date of the statements and involve known and unknown risks and uncertainties that could cause future results, performance or events to differ materially from those expressed or implied by these statements. Please refer to the latest Universal Registration Document filed in French by Carmila with the Financial Markets Authority for additional information regarding these factors, risks and uncertainties. Carmila does not intend and has no obligation to update or revise the forward-looking statements mentioned above. Consequently, Carmila declines all responsibility for the consequences resulting from the use of any of the above statements.
This press release is available in the “Financial press release” section of Carmila’s Finance web page: