Westfield Group has purchased a 50% stake in Brazilian shopping malls development firm Almeida Junior Shopping Centers. The acquisition will help the group expand its global platform into the emerging Brazilian shopping center market. Westfield will invest $456 million to become part owner and active partner in the venture. The company will be renamed Westfield Almeida Junior Shopping Centers and will own and control five shopping centers in southern Brazil.
Click here for the release from Westfield.