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History and Corporate Profile

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10/20/2012

History and Corporate Profile

Corporate Profile

Sonae Sierra Brasil is one of the leading developers, owners and operators of shopping centers in Brazil, according to ABRASCE, with a focus on excellence and quality. Through a vertically-integrated business model, it operates in all phases of the shopping center development and redevelopment process, including conducting feasibility studies and surveys, land acquisitions, planning, architectural design, construction management, property and asset management and commercialization of stores. The integrated model creates synergies and operational efficiencies and enables it to develop and manage high quality shopping centers with strong financial and operating performance.

The Company holds a majority interest in most of the shopping centers in its portfolio and manages all of them. Retaining control over the operations of a shopping center strengthens its ability to adopt policies that advance its objective of operating regionally dominant shopping centers.

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History

Sonae Sierra Brasil was incorporated as Sonae Imobiliária Brasil Ltda. on July 17, 2003, in the city of São Paulo, State of São Paulo, Brazil, as a limited liability company, and as the platform for Sonae Sierra’s expansion into Brazil. A brief summary follows of certain significant events that have occurred since its founding:

  • December 1999: Established a joint venture between Enplanta Engenharia Ltda., currently Enplanta Shopping and Sonae Sierra, through the creation of Sierra Enplanta Ltda.M
  • March 2002: Opened Parque D. Pedro Shopping in Campinas, in the State of São Paulo, the largest shopping center in Brazil in terms of contiguous GLA.
  • June 2003: Formed Sonae Sierra Brasil Ltda. as the successor vehicle for the operations of Sonae Sierra, in Brazil.
  • April 2004: Opened Boavista Shopping.
  • November 2005: Acquired a 20.0% stake in Shopping Plaza Sul.
  • September/October 2006: Completed our corporate restructuring, including the acquisition by DDR of its indirect stake in our capital stock.
  • January and June 2007: Acquired additional stakes in the Metrópole, Tivoli and Plaza Sul shopping centers, respectively.
  • May 2008: Converted Sonae Sierra Brasil Ltda. (limited partnership) into a corporation, Sonae Sierra Brasil S.A.
  • April 2009: Opened Manauara Shopping, in the State of Amazonas.
  • October 2009: Acquired an additional stake in Shopping Metrópole.
  • November 2010: Opened Parque D. Pedro Shopping expansion.
  • February 2011: IPO and commencement of trading of the Company‘s shares (SSBR3) in BM&FBovespa.
  • September 2011: Opened Shopping Campo Limpo expansion.
  • November 2011: Opened Shopping Metrópole expansion.
  • March 2012: Opened Uberlândia Shopping, in the State of Minas Gerais.
  • October 2012: Acquired an additional stake in Franca Shopping.
  • November 2012: Sold our stake in the shopping centers Pátio Brasil, Shopping Penha and Tivoli Shopping.
  • May 2013: Opened Boulevard Londrina Shopping, in the State of Paraná.
  • October 2013: Opened Passeio das Águas Shopping, inthe State of Goiás.
  • April 2014: Concluded a new corporate restructuring: DDR sold its indirect stake on our capital to Mr. Alexander Otto and his affiliated companies.
  • April 2016: Boavista Shopping sale.