Last updated: 13:03 / Friday, 31 May 2013
Through its CKD PLANICK

Planigrupo Management Buys 9 New Shopping Malls in Mexico for $253 Million

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Planigrupo Management Buys 9 New Shopping Malls in Mexico for $253 Million

Planigrupo Management, through its CKD PLANICK, has made an investment of US$253 million in nine shopping malls in Mexico. The investment was made in capital and debt, and was duly approved by the Holders’ Assembly on January 16, March 19 and May 15 of 2013 respectively.

The investment represents the total purchase of eight shopping malls and a partial purchase of a ninth, all located in the Mexican Republic where the middle classes are experiencing a continued resurgence.

At the close of April, Planigrupo Management had 2.5 billion pesos (197 million US dollars) invested by Mexican pension fund managers, or AFORES. This stands as the thirteenth largest investment on structured instruments according to data from Consar, Mexico's National Commission for Retirement Savings.

The trust’s principal goal is to invest in the development, acquisition, design, construction, maintenance, leasing, management, administration, renovation, expansion and financing of real estate in Mexico, as well as making investments to acquire the rights to collect income from the lease of Mexican shopping malls. It announced the transaction, completed on May 17, via a communication sent to the Mexican Stock Exchange.

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