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Sign in Sign up for a FREE subscriptionGrosvenor Group agrees to sell stake for €255m
Grosvenor Group has agreed to sell 20 percent of its stake in Sonae Sierra, the multinational retail real estate company, to Sonae SGPS, for a total estimated consideration of approximately €255 million ($298 million).
“The decision to reduce our shareholding in Sonae Sierra is an important step in the rebalancing of our international property portfolio,” said Mark Preston, CEO, Grosvenor Group.
Grosvenor Group will retain its remaining 30 percent in Sonae Sierra and Sonae SGPS’s share will increase to 70 percent.
