CSC Shareholders OK Trafford Centre Deal

U.K. mall owner, Capital Shopping Centers’ shareholders have approved a deal to acquire the Trafford Centre in Manchester.

U.K. mall owner, Capital Shopping Centers’ (CSC) shareholders have approved a deal to acquire the Trafford Centre in Manchester, Reuters reports. The deal will also give Trafford’s owner, Peel Group, around a 23.2% stake in CSC.

London-based CSC will pay £748 million in shares and bonds to Peel Group and will also assume £852 million of debt on the mall, adds Bloomberg. U.S. mall owner, Simon Property, dropped a CSC takeover bid earlier this month.

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