Simon Property Drops $3.5B To Expand Mall Holdings

Law360, New York (March 8, 2012, 4:25 PM EST) -- Indiana real estate company Simon Property Group Inc. has acquired a minority stake in a French real estate firm and bought out a joint venture partner's interest in 26 U.S. shopping malls for a combined $3.5 billion, the company announced Thursday.

Simon Property said it had acquired a 28.7 percent equity stake in Klepierre SA, a European shopping center operator based in Paris, from European banking giant BNP Paribas SA for about $2 billion. 

The transaction is expected to close next week.

With the purchase, Simon...
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