French REIT Klepierre Reaches Agreement to Buy Dutch Firm Corio

French shopping center REIT Klepierre S.A. (Euronext Paris: LI) announced July 29 that it plans to purchase Dutch retail property company Corio NV (Euronext Amsterdam: CORA) in a transaction valued at $ 9.7 billion.

The combined property portfolio of the two companies would encompass 182 shopping centers across 16 European nations with a pro-forma gross asset value of more than $ 28 billion. The companies generated a combined net rental income of more than $ 1.6 billion in 2013.

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