JV acquires Stratford City retail stake for $1.4B

11/21/2010 | Bloomberg

A joint venture between APG Algemene Pensioen Groep NV and the Canada Pension Plan Investment Board is acquiring half of Westfield Group's stake in the retail portion of its Stratford City development in London. They are paying $1.4 billion for the 50% stake, giving Westfield a development profit of about roughly $479 million.

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