Atlético Mineiro board approves the sale of DiamondMall stake for R$ 320 million

The deliberative council of Atlético Mineiro approved this Monday (30), in an extraordinary meeting, the sale of a 49.9% stake in the DiamondMall shopping centre in Belo Horizonte, managed by Multiplan. The intention is to relieve the club's debts, which exceed R$ 500 million.

Out of 480 directors, the club got the 280 votes needed to approve the sale of the stake in the property, in which it intends to raise R$320 million. According to Atlético, the next step is to open the round of negotiations with investors to purchase the remaining 49.9%. Multiplan has not yet expressed whether or not it will be interested in acquiring this slice.

In 2017, Atlético sold the 50.1% stake to the mall manager for R$296.8 million, with correction. The initial value of the deal was R$250 million. The acquisition was completed in January 2020.

Opened in 1996, DiamondMall was developed on land leased from Atlético for 30 years – until November 2026. Since its opening, it has been managed by Multiplan, which, in the capital of Minas Gerais, also manages BH Shopping and Pátio Savassi.