Key facts about URW's strategic acquisition

Unibail-Rodamco-Westfield (ASX:URW) has announced a strategic acquisition of a 38.9% stake in URW Germany GmbH, increasing its ownership to 89.9%. The acquisition from Canada Pension Plan Investment Board involves issuing 3.254 million new stapled shares, strengthening URW's position in the German real estate market.

Overview of URW's strategic move in Germany

Unibail-Rodamco-Westfield's acquisition of a 38.9% stake in URW Germany GmbH from CPP Investments bolsters its ownership to 89.9%, reinforcing its footprint in the German real estate market. The transaction, valued at up to €65 million for remaining stakes, is financed through issuing new URW shares, enhancing liquidity and financial stability. The acquisition is neutral to EPRA NTA and improves the IFRS LTV by approximately -20 basis points, aligning with URW's strategic growth without impacting its 2024 AREPS guidance. URW continues to focus on sustainable real estate operations, urban regeneration, and maintaining strong partnerships with CPP Investments in other ventures.

Executive insights on URW's acquisition

This acquisition enhances our position in the German market, a key area for our strategic growth. It allows us to consolidate our holdings and increase our cash position, providing enhanced financial flexibility and stability. We are committed to maintaining our guidance and ensuring the continued success of our ventures.