BRMalls negotiates acquisition or merger with Shopping Eldorado manager

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The president of BRMalls, Ruy Kameyama, admitted this Friday (18) publicly that the company has ongoing negotiations for a possible merger or acquisition (M&A) involving the administrator Ancar Ivanhoe, responsible for 25 malls, such as Shopping Eldorado, Conjunto Nacional and Metro Itaquera.

The statement was made when explaining to analysts and investors that the company has alternatives under study that are not limited to the rejected merger proposal with Aliansce Sonae. “Let’s look at other alternatives, calmly. We are in talks with Ancar and there are other alternatives,” he said.

The executive considered that BRMalls managers “are not desperate to make a deal”, even more so if this implies accepting a valuation of the company based on the current price of the share, which is quoted close to the historic low.

Kameyama also said that he considers the M&A activity a great alternative, noting that BRMalls itself was formed with the purchase of malls. In the following years, there was a movement to “sculpt the portfolio”, that is, to get rid of less interesting ventures.

Another point defended by the executive is that the end of 2021 marked a turning point for the company, with the recovery of financial and operating results to levels equal to or greater than those seen before the pandemic. And he said he expects the numbers to grow over the next three years.

Source: CNN Brasil

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