U.K. mall owner, Capital Shopping Centers’ (CSC) shareholders have approved a deal to acquire the Trafford Centre in Manchester, Reuters reports. The deal will also give Trafford’s owner, Peel Group, around a 23.2% stake in CSC.
London-based CSC will pay £748 million in shares and bonds to Peel Group and will also assume £852 million of debt on the mall, adds Bloomberg. U.S. mall owner, Simon Property, dropped a CSC takeover bid earlier this month.
Click here for the story fromReuters.
Click here for additional coverage from Bloomberg.