DGAP-News: Wereldhave makes a defining move on the Dutch

DGAP-News: Wereldhave Wereldhave makes a defining move on the Dutch market with the acquisition of nine shopping centres for [Eur]730 million 24.06.2015 / 17:51 --------------------------------------------------------------------- Schiphol, the Netherlands, 2015-06-24 17:51 CEST (GLOBE NEWSWIRE) -- -- Wereldhave secures the largest portfolio of shopping centres available on the Dutch market -- Unique opportunity to acquire an attractive portfolio of scale -- Strong strategic fit with our current Dutch portfoli -- Purchase price of [Eur]730 million represents a yield of c. 6% -- Upside potential by leveraging strong Wereldhave retail expertise -- Acquisition is expected to be accretive to target EPS in first full year (2016) -- Transaction to be financed via an offering of up to 5,250,000 new ordinary shares to institutional investors and existing debt facilities, with asset disposals targeted over the next 18 months -- Confirm commitment to strong balance sheet with LTV target of 35% - 40% by year end 2016 Today, Wereldhave N.V. ('Wereldhave' or 'the Company') takes a defining step in its Dutch market and a major leap in realizing its strategy of becoming the leading specialist in mid-sized shopping centres in North-Western Continental Europe. The Company announces that it has entered into a conditional agreement with Klepierre Management Nederland B.V. ('the Seller') pursuant to which Wereldhave intends to acquire nine shopping centres in the Netherlands and a development project for the extension of one of these centres ('the Target Portfolio') for a total consideration of [Eur]730 million, excluding transaction costs ('the Transaction'). Adding these assets to Wereldhave's existing ten shopping centres creates the single largest portfolio of mid-sized shopping centres in the Netherlands. The Target Portfolio is being acquired at a yield of c. 6%. Wereldhave intends to finance the acquisition via an equity offering of up to 5,250,000 new ordinary shares and existing debt facilities, with asset disposals targeted over the next 18 months. Completion of the Transaction is envisaged to take place before the end of 2015. Information for the press: Richard W. Beentjes E richard.beentjes@wereldhave.com T + 31 20 702 78 33 Information for analysts: Jaap-Jan Fit E jaapjan.fit@wereldhave.com T + 31 20 702 78 43 Click on, or paste the following link into your web browser, to view the associated documents https://newsclient.omxgroup.com/cds/Disclosur...eAttachmen tId=521756 News Source: NASDAQ OMX --------------------------------------------------------------------- 24.06.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Wereldhave Netherlands End of News DGAP News-Service --------------------------------------------------------------------- 371781 24.06.2015