Capital Shopping Approves Trafford Mall Acquisition

Capital Shopping Centres Group Plc, the U.K.’s biggest shopping mall owner, said shareholders approved the purchase of the Trafford Centre near Manchester, England, for 748 million pounds ($1.2 billion) in shares and bonds, the highest price ever paid for a British property.

The measure passed on a show of hands, the London-based company said at a shareholder meeting today. About 80 percent of the 496 million shares that were voted by proxy were in favor of the deal, it said. The vote had been delayed during a failed attempt by U.S. mall owner Simon Property Group Inc. to buy Capital Shopping.