Fibra UNO (BMV:FUNO 11) entered into an agreement to acquire three shopping centers in Mexico City for MXN 1.3 billion.

Fibra UNO (BMV:FUNO 11) entered into an agreement to acquire three shopping centers in Mexico City for MXN 1.3 billion on January 8, 2015. The selling party has the option to pay MXN 400 million in debt before settling the transaction. If this option is not exercised, FUNO will pay the debt before closing the acquisition.

The transaction will be paid with CBFIs and could include a cash component. Under the terms of the deal, the purchase price could be modified if net operating income changes during the closing period. This acquisition is subject to approval of the Mexican anti-trust authority, Comision Federal de Competencia Economica.

The shopping centers are expected to generate MXN 110.6 million of annual net operating income. Lucia Domville of Grayling and Francisco Galindo of Zimat acted as the PR advisor for Fibra UNO.