DDR closed sale of 50% ownership of interest in Sonae Sierra Brazil for $344M

theflyonthewall.com

DDR announced the closing of the previously announced sale of its 50% ownership interest in Sonae Sierra Brazil BV Sar for $344M. DDR's interest in SSB BV Sarl represents DDR's entire investment in Brazil. The exit from Brazil is consistent with DDR's strategy to simplify its structure, reduce the Company's risk profile, and prudently allocate capital to high quality prime power centers in the U.S.

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