PARIS (Reuters) - Unibail-Rodamco (AS:UNBP) said it has agreed to sell a portfolio of six "non-core" French shopping centres for 850 million euros (681.95 million pounds) to Wereldhave (AS:WEHA) as the French real estate group focuses on larger regional malls.
Wereldhave said it would finance the acquisition via a rights issue of up to 550 million euros, available cash of about 150 million and existing debt facilities. Completion of the transaction is expected by the end of December.
"This transaction, part of the disposal programme of retail assets announced in February this year, will allow the group to continue to sharpen its focus on large regional shopping centres," Unibail Chief Executive Christophe Cuvillier said in a statement on Thursday.
(Reporting by James Regan; Editing by Andrew Callus)