PARIS (dpa-AFX) - Unibail-Rodamco-Westfield SE (UNBLF.PK), a French real estate company, announced on Thursday that it has acquired a 38.9 percent stake in URW Germany GmbH and its related entities from its joint venture partner Canada Pension Plan Investment Board in an off-market transaction.
The transaction has increased URW's stake in URWG to 89.9 percent.
This acquisition is financed through the issuance of 3.254 million new URW stapled shares, representing around 2.2 percent of URW's post-execution share capital. These shares will be provided to CPP Investments as consideration for their contribution in kind of the 38.9 percent stake in URWG.
Both companies retain an option to transfer the remaining 10.1 percent of CPP Investments' interest to URW in 2025 for up to 65 million euros in cash.
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