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Deutsche EuroShop Raises 132 Million Euros From Rights Offer

Nov. 23 (Bloomberg) -- Deutsche EuroShop AG, Germany’s largest shopping-center owner, said it raised 132 million euros ($177 million) in gross proceeds from its rights offering, in its second capital increase this year.

Demand for the new shares represented a 6.4 times oversubscription rate and the proceeds of the sale will be used to finance the acquisition of the Billstedt-Center Hamburg and further shopping center investments, it said in a statement.

Commerzbank AG and DZ BANK AG managed the sale.

To contact the reporter on this story: Richard Weiss in Frankfurt at rweiss5@bloomberg.net.

To contact the editors responsible for this story: Benedikt Kammel at bkammel@bloomberg.net.

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