Equity International Announces Sale of BR Malls
Shares
Brazil’s Leading Retail Property Company Continues Dynamic Growth Path
July 15, 2010 05:57 PM Eastern Daylight Time
CHICAGO--(EON: Enhanced Online News)--Equity International (EI), the privately held company focused on
investing and building world-class companies outside of the United States, announced today the sale of
approximately 18.2 million shares of BR Malls (Bovespa:BRML3), the leading publicly traded retail property
company in Brazil, for approximately US$245 million. Following this transaction, EI’s ownership interest in the
Company is approximately 6 percent. EI remains a significant and active shareholder in BR Malls.
Headquartered in Rio de Janeiro, BR Malls is the largest retail property company in Brazil and is the most diversified
both in terms of geography and coverage of income sectors. The Company is distinguished by its high quality
portfolio, significant service business, professional management and efficient operating systems. Since EI’s original
investment, BR Malls has grown its portfolio from 7 to 35 shopping malls, representing more than 1 million square
meters of gross leasable area with 6,000 stores attracting 430 million visitors annually.
“We continue to have the highest level of enthusiasm for BR Malls and the retail property sector in Brazil, and we
remain an avid investor in the Company, the sector and the country,” commented Gary Garrabrant, EI’s chief
executive officer. “Today’s sale is simply a reflection of EI’s disciplined and proven monetization philosophy.”
EI made its original investment in BR Malls in 2006 and a follow-on investment three years ago. “The Brazilian retail
sector continues to offer significant growth opportunities and we look forward to working with BR Malls to capitalize
on these,” added Mr. Garrabrant.
EI provides ongoing strategic direction and counsel to BR Malls, and Thomas McDonald, EI’s chief strategic officer,
continues to serve as a member of the Company’s Board