Simon Ivanhoe holds shares in seven shopping centres in France and Poland. Unibail-Rodamco has also entered a JV agreement for Simon and Ivanhoe Cambridge to jointly retain 50% interests in five French retail development projects, which it will now develop. CEO Guillaume Poitrinal told The Figaro newspaper the transaction total is €715 million, and the firm said it will fund the acquisition from existing bank facilities. "This transaction represents a unique opportunity to reinforce our presence in the large shopping centre segment, in French and Polish capital cities," he added in a statement.

The largest asset in the portfolio is Arkadia which, Unibail-Rodamco said, compliments its portfolio in Warsaw, Poland. Arkadia opened in October 2004 and with a total retail area of 103,128 sq.m. is among the largest malls in central Europe. Development projects include Les Portes de Gascogne in Toulouse, Les Terrasses de Poncy, Poissy, Le Cannet, Mandelieu-La Napoule, and Saint Geours de Maremne.

Separately Unibail-Rodamco is joining the EURO STOXX 50 index of leading Eurozone shares – replacing German carmaker Volkswagen, which is being removed from the index under STOXX Ltd's fast exit rule. The selection partly reflects market capitalisation rankings. Unibail-Rodamco, with a portfolio of malls, office and convention-exhibition venues was valued at €22.8 billion last June.