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    Patio Savassi ING

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    Multiplan RI
    Multiplan increased its ownership interest in the Shopping Pátio Savassi mall in Belo Horizonte, Brazil from 80.9% to 96.5% by acquiring an additional 15.6% stake for R$51.8 million. The acquisition allows Multiplan to gain more control over management and operations at the mall. An expansion of the mall is also planned to add 1,109 additional square meters of leasable space by the end of the year. Multiplan expects revenue growth at the mall given a 72.1% sales increase over the last 12 months.

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    Patio Savassi ING

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    Multiplan RI
    29 views1 page
    Multiplan increased its ownership interest in the Shopping Pátio Savassi mall in Belo Horizonte, Brazil from 80.9% to 96.5% by acquiring an additional 15.6% stake for R$51.8 million. The acquisition allows Multiplan to gain more control over management and operations at the mall. An expansion of the mall is also planned to add 1,109 additional square meters of leasable space by the end of the year. Multiplan expects revenue growth at the mall given a 72.1% sales increase over the last 12 months.

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    20100413PatioSavassiING

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    Multiplan increased its ownership interest in the Shopping Pátio Savassi mall in Belo Horizonte, Brazil from 80.9% to 96.5% by acquiring an additional 15.6% stake for R$51.8 million. The acquisition allows Multiplan to gain more control over management and operations at the mall. An expansion of the mall is also planned to add 1,109 additional square meters of leasable space by the end of the year. Multiplan expects revenue growth at the mall given a 72.1% sales increase over the last 12 months.

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    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    29 views1 page

    Patio Savassi ING

    Uploaded by

    Multiplan RI
    Multiplan increased its ownership interest in the Shopping Pátio Savassi mall in Belo Horizonte, Brazil from 80.9% to 96.5% by acquiring an additional 15.6% stake for R$51.8 million. The acquisition allows Multiplan to gain more control over management and operations at the mall. An expansion of the mall is also planned to add 1,109 additional square meters of leasable space by the end of the year. Multiplan expects revenue growth at the mall given a 72.1% sales increase over the last 12 months.

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    of 1

    PRESS RELEASE

    35 Years
    MULTIPLAN INCREASES ITS INTEREST
    IN SHOPPING PÁTIO SAVASSI TO 96.5%
    The shopping center will have an expansion until the end of the year

    Rio de Janeiro, July 22, 2010 – MULTIPLAN EMPREENDIMENTOS HIGHLIGHTS


    IMOBILIÁRIOS S.A. (BM&FBOVESPA: MULT3), following its growth strategy,
    hereby announces the increase of the ownership interest in Shopping Pátio Interest acquired: 15.6%
    Savassi through the acquisition of additional 15.6% stake of the mall, located Price: R$51.8 million
    in the city of Belo Horizonte, state of Minas Gerais.
    Resulting interest: 96.5%
    Through the exercise of a call option signed with MK Empreendimentos e
    Participações Ltda, Multiplan invested R$51.8 million in order to increase the
    interest in the shopping center from 80.9% to 96.5%. The company also
    acquired on the present date, for R$4.2 million, assets and interest in land
    plots located in the surroundings of the shopping center, which might be used
    for future expansions.

    The acquisition allows Multiplan to increase control and efficiency of its


    management in the shopping center, especially on what relates to renovations,
    modernizations and expansions. In addition, until November of this year, an
    expansion of 1,109 m² of gross leasable area will be opened in Pátio Savassi.
    The internal rate of return (IRR) for the shopping center, since its initial
    acquisition in 2007, is 16.8% p.a., real and unleveraged.

    Besides the increase through future expansions (opening of new areas), the company expects a strong revenue growth,
    given the sales increase of 72.1% for the mall in the last 12 months, when compared to 12 months prior to shopping center
    acquisition (in June 2007). The company also sees a potential increase in the mall’s rental revenue, since the other two
    Multiplan shopping centers in the region had a 26.5% higher rental revenue, compared to Pátio Savassi in 1Q10.

    After the announced acquisition, Multiplan increases its owned GLA to 350.3 thousand m², also expanding the interest in its
    portfolio to 65.7%.
    Armando d’Almeida Neto – CFO and IRO

    Disclaimer: Readers/investors should be aware that many factors may mean that our future results differ from the forward-looking statements in this document. The
    Company has no obligation to update said statements.
    The words "anticipate“, “wish“, "expect“, “foresee“, “intend“, "plan“, "predict“, “forecast“, “aim" and similar words are intended to identify affirmations.
    Forward-looking statements refer to future events which may or may not occur. Our future financial situation, operating results, market share and competitive
    positioning may differ substantially from those expressed or suggested by said forward-looking statements. Many factors and values that can establish these results
    are outside the company’s control or expectation. The reader/investor is encouraged not to completely rely on the information above.

    Address: Av. das Américas, 4.200


    IR – Multiplan Bloco 2 - Sala 501 Duplex
    Tel: (21) 3031-5200 Barra da Tijuca- Rio de Janeiro
    Fax: (21) 3031-5322 CEP: 22640-102

    Em ail: r i @mul ti p l an .c om.br W e b s i t e : w w w. m ul t i p l an . c om .b r/ ri

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