"Carlyle Group, the US private-equity firm in which Abu Dhabi’s Mubadala Development Company owns a 7.5 percent stake, confirmed it had agreed to buy a 49 percent stake in two Chinese shopping malls, betting on growing consumer demand and expansion of the retail sector in the world's second-largest economy.
Carlyle, through a vehicle advised by its Asia real estate group, bought the stake from shopping mall developer SZITIC Commercial Property Co Ltd as part of a strategic partnership signed between the two companies, it said in an emailed statement.
The malls in second-tier cities Hangzhou and Suzhou have both fashion and electronics stores, with tenants including Starbucks Corp and Wal-Mart Stores Inc."
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