Deals
Carrefour-Led Group Buys Malls in $2.75 Billion Land Deal
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Carrefour SA joined a group of institutional investors to buy 127 European shopping malls in a 2 billion-euro ($2.75 billion) transaction that gives the retailer more control of the sites around its hypermarkets.
The purchase from Klepierre SA adds malls spanning about 476,000 square meters (5.1 million square feet) in France, Spain and Italy, the Boulogne Billancourt, France-based company said today in a statement. Carrefour will have a 42 percent stake in a company that combines the sites with 45 malls it owns in its home market.