China Investment Corporation (CIC) has joined with investment manager AEW Europe to acquire a fleet of 10 malls in France and Belgium from CBRE Global Investors for €1.3 billion ($1.44 billion). The retail acquisition is believed to be the largest yet for CIC, which is China’s biggest sovereign wealth fund and is part of a growing wave of investments by Chinese institutional investors in Europe.
The price paid exceeds CBRE Global Investors reported asking price of €1.2 billion ($1.35 billion), and is well in excess of the $1.2 billion that the two sides were reported to have agreed upon by the French media last month...............................................Full Article: Source
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