Neinver acquires 100% of joint venture with Mab

By

Bruno Joly

Published
Apr 8, 2014

The joint venture between Neinver and Mab Development, inaugurated in great style with the Roppenheim outlet in Alsace among others, is now coming to an end. The Spanish developer has signed an agreement to acquire de facto the 50% of shares previously held by its partner, the subsidiary of the Dutch Rabobank Group.

The joint venture was originally embarked upon in order to develop the Spanish company’s outlet centres in Germany, the Netherlands and France. But by May 2013, Rabobank had already announced its wish to pull out from commercial real estate ventures, implying the total cessation of all activities conducted by its subsidiary MAB Development.

To remember, in April 2012, within the context of the joint venture, the two partners opened Roppenheim The Style Outlets, a French outlet located in Alsace near the German border. In France, the project in Honfleur has been abandoned. Those in Amsterdam and in Werl, Germany remain.