Paris, Amsterdam, 2017-Aug-14 — /EPR Retail News/ — The Management Board of Unibail-Rodamco SE, pursuant to the authorization granted by the Annual General Meeting of April 25, 2017, has decided to implement a programme to repurchase shares of Unibail-Rodamco SE for an aggregate amount of up to 750 million euros (excluding costs and fees).
The repurchase programme is expected to run until October 10, 2017 and will be executed in compliance with the EU Regulation of 16 April 2014 on market abuse and the French financial markets Authority regulation.
All repurchased shares will be canceled in accordance with Article L. 225-209 of the French Commercial Code.
As the execution of this opportunistic repurchase programme will depend on market conditions, the full amount may not be reached. The programme does not affect the Company’s level of comfort for its loan-to-value ratio of around 40%.
For further information, please contact:
+33 1 76 77 58 02
+33 1 76 77 57 94
Created in 1968, Unibail-Rodamco SE is Europe’s largest listed commercial property company, with a presence in 11 EU countries, and a portfolio of assets valued at €40.5 billion as of December 31, 2016. As an integrated operator, investor and developer, the Group aims to cover the whole of the real estate value creation chain. With the support of its 1,990 professionals, Unibail-Rodamco applies those skills to highly specialised market segments such as large shopping centres in major European cities and large offices and convention & exhibition centres in the Paris region.
The Group distinguishes itself through its focus on the highest architectural, city planning and environmental standards. Its long term approach and sustainable vision focus on the development or redevelopment of outstanding places to shop, work and relax. Its commitment to environmental, economic and social sustainability has been recognised by inclusion in the FTSE4Good and STOXX Global ESG Leaders indexes.
The Group is a member of the CAC 40, AEX 25 and EuroSTOXX 50 indices. It benefits from an A rating from Standard & Poor’s and Fitch Ratings.
For more information, please visit our website: www.unibail-rodamco.com