Canada Pension Pays up for Brazilian Mall Stake

Canada Pension Pays up for Brazilian Mall Stake

Bolivia M&A Canada

The Canada Pension Plan Investment Board (CPPIB) has agreed to acquire a 27.6% percent stake in Brazil's Aliansce Shopping Centers from US-based REIT General Growth Properties for $480m, Aliansce and CPPIB say, a deal coming at well above market price. The 43.8m shares involved would have fetched BRL880m ($390m) at the previous day’s BRL20.10 closing price, suggesting CPPIB paid a 23% premium. Separately, the US fund has agreed to sell a 12.4%, or 19.7m share, stake in Aliansce to the Rique Empr

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