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Simon Completes Taubman Centers Acquisition
Simon Property Group completed its $3.4-billion acquisition of an 80% ownership interest in the Taubman Realty Group Limited Partnership (TRG). Indianapolis-based Simon acquired all of Taubman Centers’ common stock for $43 per share in cash, while the Taubman family sold approximately one-third of its ownership interest and remains a 20% partner in TRG.
“This investment will enhance the ability of TRG to establish innovative retail environments for consumers and to create new job prospects for the communities in which it operates,” said Simon CEO David Simon. “I look forward to partnering with the Taubmans in this exciting new joint venture, and to driving strong performance at TRG’s properties.”
Headquartered in Bloomfield Hills, MI, TRG is engaged in the ownership, management and/or leasing of 26 regional, super-regional and outlet malls in the U.S. and Asia. Its U.S. properties are among the strongest performers in retail.
Pictured: Taubman’s Country Club Plaza in Kansas City, MO.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
