Rodamco Europe
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| Societas Europaea | |
| Traded as |
Euronext: UL CAC 40 Component |
| Industry | Property |
| Founded | 2007 |
| Headquarters | Paris, France |
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Key people
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Christophe Cuvillier (CEO), Rob Ter Haar (Chairman of the supervisory board) |
| Products | Shopping centers, convention and exhibition venues, office buildings |
| Profit | €1.318 billion (2012) |
| Total assets | €39.3 billion (June 30, 2016) |
| Total equity | €17.83 billion (September 30, 2013) |
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Number of employees
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1,500 (average, 2013) |
| Website | www.unibail-rodamco.com |
Unibail-Rodamco SE is a European company, headquartered in Paris, that specializes in commercial property investments. It is the largest commercial real estate company in Europe. Unibail-Rodamco was created in June 2007 through the merger of Unibail (created in France in 1968) and Rodamco Europe. Unibail-Rodamco manages three types of assets: shopping centers, convention centers and office properties. The company counts 1500 employees on its payroll. The company is a component of the Euro Stoxx 50 .
Unibail was founded as a finance leasing unit in 1968 by the company then known as Worms & Cie. In 1991, the company started to focus on the property investment sector, and to phase out involvement in lease financing. Unibail built up a portfolio of property with close to 30 shopping centres across France - including the Forum des Halles and the arcade within CNIT - and substantial office properties in Paris and La Défense - including the Tour Ariane, and the Paris Expo group of convention centres.
Rodamco Europe was formed in 1999 when Rodamco, a property investment fund set up by the Dutch asset management group Robeco in 1979, was broken up into various independent listed companies covering different parts of the world. Rodamco Europe subsequently collected a portfolio primarily consisting of shopping centres and other retail spaces across 14 European countries, along with some office property in France and the Netherlands, acquiring smaller European rivals in the process.
On April 10, 2007, Rodamco Europe announced an agreement to conduct a merger of equals with Unibail to create the largest publicly traded property company in Europe. The merger was confirmed on June 21, 2007, after Unibail announced the acquisition of 80% of Rodamco's shares, making its offer for the remainder unconditional. The merged entity took effect as a société anonyme under the new name Unibail-Rodamco on June 25, 2007.
On June 1, 2011, Unibail-Rodamco hired former FNAC CEO Christophe Cuvillier as the new COO. In collaboration with CEO and Chairman of the Board Guillaume Poitrinal, he has led the company to 5 years of growth in spite of the tough economic conditions.
In May 2015, Unibail revealed it had signed an agreement with the Canada Pension Plan Investment Board to sell its 46.1 percent stake in German shopping mall operator MFI AG for €394 million.
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