Opérations et transactions|13 mai 2011
Canada Pension Plan Investment Board announces joint venture acquisition of CentrO Oberhausen
Torys acted as counsel to Canada Pension Plan Investment Board with a team that included Darren Baccus and Jamie Beal.
On May 13, 2011, Canada Pension Plan Investment Board (CPPIB) and Stadium Group announced that CPPIB has acquired a 50% joint venture interest in CentrO Oberhausen, a shopping and leisure centre in Germany, valued at €1.3 billion, from Stadium Group (Stadium). CPPIB's equity investment is €270 million. Stadium will retain its 50% interest in CentrO and will continue to manage the shopping centre.
CentrO is a 1.6 million-square-foot (150,000-square-metre) dominant destination shopping and leisure centre with fashion, entertainment and dining options. Located 40 kilometres north of Dusseldorf, CentrO draws from a population of approximately 11.7 million people that live within a 60-minute drive of the complex in both Germany and the Netherlands.
The joint venture will complete a 180,000-square-foot (17,000 square-metre) extension by the end of 2012, anchored by a 85,000-square-foot (7,800 square-metre) Peek & Cloppenburg department store.
CPPIB, headquartered in Toronto, is a leading pension plan administrator.
Stadium Group is a private group of companies specializing in retail property development, investment and asset management in the United Kingdom and Germany.
Further information is found on CPPIB's website.
CentrO is a 1.6 million-square-foot (150,000-square-metre) dominant destination shopping and leisure centre with fashion, entertainment and dining options. Located 40 kilometres north of Dusseldorf, CentrO draws from a population of approximately 11.7 million people that live within a 60-minute drive of the complex in both Germany and the Netherlands.
The joint venture will complete a 180,000-square-foot (17,000 square-metre) extension by the end of 2012, anchored by a 85,000-square-foot (7,800 square-metre) Peek & Cloppenburg department store.
CPPIB, headquartered in Toronto, is a leading pension plan administrator.
Stadium Group is a private group of companies specializing in retail property development, investment and asset management in the United Kingdom and Germany.
Further information is found on CPPIB's website.