INDIANAPOLIS-Simon Property Group, based here, announced this morning two separate retail investments totaling $3.5 billion and almost 300 properties across the globe. The company, which had a failed bid for the bankrupt General Growth Properties, today said it will acquire stakes in mall owner Klepierre and the Mills LP.
Simon is purchasing a majority 28.7% equity stake, more than 54 million shares, of Paris-based Klepierre from BNP Paribas for almost $37 per share, or about $2 billion. The Klepierre portfolio includes 271 shopping centers in 13 countries, with about half in France and Belgium, for a total $21.3 billion value.
With the purchase, chairman and CEO David Simon will become chairman of Klepierre’s supervisory board. Two other Simon executives will join the board as well. The transaction is expected to close this week.
“We are very excited to become the largest shareholder in Kl
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