Find in the news:
BY COUNTRY

Owners of shopping malls succeeded in reaching an agreement on a merger



Taubman Centers mall operator by Simon Property Group was threatened with disruption due to a decline in consumer activity.
Simon Mall

The negotiations started before the coronavirus pandemic when the most extensive U.S. shopping center operator Simon Property Group signed a deal to take over 80% of shares in Taubman Centers for $3.6 billion. Later became known that Simon intended to break the agreement. In many ways, this happened because Taubman's 26 shopping centers were severely affected by a sharp decrease in visitors' flow. The result was a lawsuit.

As a result, the parties managed to come to a new agreement and decided not to bring the case to court. And the revised terms signal that there is hope for a rapid recovery of traffic in America's shopping malls once the Covid-19 vaccine becomes widely available.

Under the new terms of the deal, Simon will pay $43 per share for Taubman, about 18% below the original price of $52.50. And that means savings of $800 million. Both parties have approved the new deal terms. The deal will be completed either by the end of this year or early 2021.

The companies also said that they had settled the unfinished legal process. The first trial, scheduled earlier on Monday, November 16, in which the transaction was to be challenged, will not occur.

U.S. shopping centers began to experience difficulties before the pandemic when they lose large anchor stores that could not compete with e-commerce. The coronavirus appearance led to some new and severe problems, which not everyone could cope with. That led to the bankruptcy of CBL and Pennsylvania Real Estate Investment Trust, which became known earlier this year.

More about shopping malls in the USA



TODAY, South Korea:
Hyundai Seoul got a central atrium with a 12-meter waterfall and natural lighting.
May 12, 2022, Malaysia:
The complex is home to more than 200 tenants selling authentic local goods.
Apr 29, 2022, Europe, Europe:
The store sells streetwear created in collaboration with designers such as Soho Grit, Alma de Ace, BAPE, Herschel, and Staple.
Apr 28, 2022, USA:
Nike and RTFKT have announced a new collection of Nike Dunk Genesis Cryptokicks sneakers.
Apr 27, 2022, USA:
Meta Store has the intention of demonstrating the possibilities of virtual reality devices, as well as dispelling the mystery around the concept of the math universe.
Apr 22, 2022, Brazil:
BR Malls Participacoes and Aliance Sonae Shopping Centers may merge to form Brazil's largest mall operator.
Friend
and Follow
Queens Place GLA:440 000 SF
ADDRESS: 88-01 Queens Boulevard Elmhurst, NY 11373
USA . New York
Queens Place
Olympia Einkaufszentrum GLA:602 779 SF
ADDRESS: Hanauer Straße 68, 80993
Germany . Munich
Olympia Einkaufszentrum
Liberty Center GLA:828 821 SF
USA . Cincinnati
Liberty Center
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us