Klépierre has finalised the financing terms for the €1.5bn (FFr9.8bn) shopping centre portfolio buy from retailer Carrefour.
French institutions CNP Assurance and Ecureuil Vie will link up with the French property company to take a stake of between 15% and 17% in the deal.
The company has also surprised analysts with the amount it is looking to raise via a capital increase. ABN Amro said that the €250m (FFr1.6bn) cash call “is perhaps excessive” unless ABP, which owns 6% of Klépierre capital, subscribes to the increase. ABN adds that the amount should be compared with Unibail’s €220m cash call in April 1999.
In August, Klépierre announced that it was to buy the €1.5bn (FFr9.8bn) portfolio from Carrefour and an alliance with the French retailer could see it being involved with €305m (FFr2bn) of new development projects.
