| Wed 5 Jan 2011, 12:35 | | CSO - Capital Shopping Centres Group Plc - Completion of US transaction with |
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CSO
CSO
CSO - Capital Shopping Centres Group Plc - Completion of US transaction with
equity one
CAPITAL SHOPPING CENTRES GROUP PLC
(Registration number UK3685527)
ISIN Code: GB0006834344
JSE Code: CSO
Issuer Code: CSCSCG
CAPITAL SHOPPING CENTRES GROUP PLC
COMPLETION OF US TRANSACTION WITH EQUITY ONE
Capital Shopping Centres Group PLC ("Capital Shopping Centres") has completed
the agreement entered into in May 2010 pursuant to which Equity One, Inc.
("Equity One") has acquired Capital Shopping Centres` U.S. subsidiary, Capital
and Counties USA., Inc. ("C&C USA"), through a joint venture with Capital
Shopping Centres. In connection with the transaction, Capital Shopping Centres
will receive 4.1 million shares of Equity One common stock and 11.4 million
joint venture units. Capital Shopping Centres may redeem its units in the joint
venture for cash or, at Equity One`s option, Equity One common stock (on a one-
for-one basis). The closing price per Equity One share as at 3 January 2011 was
$18.39.
Capital Shopping Centres intends to retain its interest in Equity One and the
joint venture in order to participate in its growth potential.
ENQUIRIES:
Capital Shopping Centres Group PLC: +44 (0) 207 887 4220
David Fischel Chief Executive
Kate Bowyer Investor Relations
5 January 2011
This announcement includes statements that are forward-looking in nature.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
Capital Shopping Centres Group PLC to be materially different from any future
results, performance or achievements expressed or implied by such forward-
looking statements. Any information contained in this announcement on the price
at which shares or other securities in Capital Shopping Centres Group PLC have
been bought or sold in the past, or on the yield on such shares or other
securities, should not be relied upon as a guide to future performance.
Merrill Lynch International ("Bank of America Merrill Lynch"), a subsidiary of
Bank of America Corporation, is acting exclusively for Capital Shopping Centres
Group PLC in connection with this transaction and for no one else and will not
be responsible to anyone other than Capital Shopping Centres Group PLC for
providing the protections afforded to its clients or for providing advice in
relation to this transaction.
Sponsor:
Merrill Lynch SA (Pty) Limited
Date: 05/01/2011 12:35:01 Produced by the JSE SENS Department.
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