CPPIB-backed Aliansce to merge with smaller Sonae Sierra Brasil.

Aliansce Shopping Centers and Sonae Sierra Brasil agreed on the potential merger of their activities. The union will result in the largest company in the country, in a number of shopping malls under management: Aliansce Sonae Shopping Centers. The new company will remain listed in the Novo Mercado segment of B3. The final stake will be 67.90% for Aliansce's shareholders Aliansce and 32.10% for Sonae Sierra Brasil's shareholders "The combination of the two businesses should result in a company with even stronger strategic positioning, which, combined with the synergies, will allow us to offer even more special experiences to our consumers. We intend to generate value in the long term for our tenants and business partners, as well as offer great growth opportunities for our employees, "says Renato Rique, Chairman and CEO of Aliansce.