Unibail-Rodamco-Westfield To Sell Polygone Riviera For EUR 272.3 Mn

(RTTNews) - French real estate company Unibail-Rodamco-Westfield or URW (UNBLF, UNRDY) announced Friday that it has received a binding offer from real estate company Frey for Polygone Riviera for a net disposal price of 272.3 million euros.

The price is at a 4 percent discount to last unaffected book value.

The transaction is expected to be completed during the fourth quarter.

Polygone Riviera is a 77,100 sqm open air shopping centre located in Cagnes sur Mer in France's Nice region. Of this, around 71,000 sqm are owned by URW.

URW said it has now secured 3.6 billion euros of its 4.0 billion euros European asset disposal programme; and 0.8 billion euros contribution to net debt reduction on an IFRS basis since January 2023.

In Paris, URW shares were trading at 46.17 euros, down 0.17 percent.