October 9, 2019 / 10:11 PM / 2 months ago

Brazil's Iguatemi sells 30% stake in southern mall for $27 mln

SAO PAULO, Oct 9 (Reuters) - Brazilian upscale mall operator Iguatemi Empresa de Shopping Centers SA said on Wednesday it has sold a 30% stake in Shopping Iguatemi Florianópolis, located in the southern state of Santa Catarina, to smaller rival Lumine for 110.25 million reais ($26.8 million).

In a securities filing, Iguatemi said the payment will be made in cash. The company holds stakes in 14 malls, 2 premium outlets and three commercial towers.

$1 = 4.1089 reais Reporting by Gabriela Mello; editing by Richard Pullin

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