IRB-BRASIL RESSEGUROS S.A.
Corporate Taxpayer's ID (CNPJ): 33.376.989/0001-91
Company Registry (NIRE): 333.0030917-9
Publicly-held Company
NOTICE TO THE MARKET
Rio de Janeiro, January 21, 2020 - IRB-Brasil Resseguros S.A. ("Company") informs its shareholders and the market in general that IRB Investimentos e Participações Imobiliárias S.A. ("IRB Participações Imobiliárias"), which is controlled by the Company, has, on this date, concluded the sales of its total equity participation of approximately 20% of Praia de Belas Shopping Center, located in Porto Alegre/RS, and of approximately 15% of Shopping Center Esplanada, located in Sorocaba/SP.
On this date, it was signed the Private Instrument of Purchase and Sale Pre-Contract Agreement, which formalizes the transaction, providing for the payment of R$260,100,000.00 (two hundred and sixty million and one hundred thousand reais), of which 50% were paid until this date, and the remaining 50% will be paid in 180 days, adjusted to 120% of the CDI.
The operation terms observed, among other usual provisions in operations of this nature, the preemptive rights of the other partners in the respective projects.
The transaction represents a capital gain before taxes for the Company of R$ 84,224,125.66 (eighty-four million, two hundred and twenty-four thousand, and one hundred and twenty-five reais and sixty-six centavos) over the book value of said real estate assets.
Relações com Investidores |gri@irbre.com| +5511-2588-0216/0211/0209
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IRB Brasil Resseguros SA published this content on 21 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 January 2020 21:48:16 UTC
