12:10 AM EDT, 08/03/2026 (MT Newswires) -- Sonae's (SON.LS) Sonae Sierra subsidiary agreed to buy an 8% stake in a portfolio of eight shopping centers across Spain for 120 million euros, according to a July 31 filing. The Portuguese conglomerate is teaming up with Norges Bank Investment Management in the acquisition of the 1.5 billion-euro portfolio, with Norges Bank's investment management arm taking ownership of the majority 92% stake for 1.4 billion euros. Real estate company Sociedad General Inmobiliaria de España, or LSGIE, is selling the properties. The entire portfolio features 258,000 square meters of retail space. Sonae Sierra will manage all eight properties upon completion of the transaction, which is expected before the end of the first quarter of 2027, subject to customary closing conditions.

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