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Portugal: Shopping center merger expands empire

By  |  April 3, 2013

Shopping center conglomerate Sonae Sierra has reportedly signed a deal to acquire 50 percent in CascaiShopping. In a statement, Sonae Sierra CEO said he hopes the deal will increase the company’s stake in Portugal’s shopping centers in efforts to make the business a top destination for consumers. The Portuguese Competition Authority has yet to approve of the deal. Sonae Sierra will buy the stake from Rockspring Property Investment Managers.

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