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ALIZF Allianz Ag Muenchen Namen (PK)

290.128
0.128 (0.04%)
15 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Allianz Ag Muenchen Namen (PK) USOTC:ALIZF OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.128 0.04% 290.128 277.15 295.00 290.128 290.128 290.128 4 21:20:00

Unibail-Rodamco Agrees to Sell Mall in Nice to Allianz for EUR312.5 Million

10/11/2014 7:24am

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Allianz Ag Muenchen Namen (PK) (USOTC:ALIZF)
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By Inti Landauro

PARIS-- Franco-Dutch real-estate company Unibail-Rodamco (UL.AE) said Sunday it has agreed to sell its stake in a mall in Nice on the French Riviera to German insurer Allianz AG for 312.5 million euros ($391 million).

The mall, called Nicetoile, attracted 13 million visitors last year.

Hammerson (HMSO.LN) will manage the mall and will invest 10% in the project with Allianz.

Unibail-Rodamco expects to conclude the sale in the first quarter of 2015 once it secures all regulation approvals.

The sale is part of a broader Unibail-Rodamco plan to sell assets in France that was carried out in nine months instead of five years, the company said.

-Write to Inti Landauro at inti.landauro@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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