Simon Property sells CSC stake: source
LONDON (Reuters) - U.S. shopping center owner Simon Property Group (SPG.N) has sold out of Capital Shopping Centres CSCG.L, almost two years after it attempted a 2.9 billion pound ($4.7 billion) takeover of the British mall developer, a source familiar with the deal said.
J.P. Morgan Cazenove analysts said on Thursday that Simon Property placed 35.3 million shares at 328-330 pence in CSC, a 3.4 percent discount to Wednesday's closing price.
The source said the placing marked Simon Property's full exit from its 5 percent stake in CSC and an announcement would likely be made on Friday.
CSC rebuffed Simon Property's takeover offer in November 2010, souring relations between the companies.
Simon Property also sold its full stake in Capital and Counties (CAPCC.L), owner of London's tourist hotspot Covent Garden, through a separate placing, the source said. The two sales raised about 200 million pounds in total.
Simon Property acquired its holdings in the two companies in 2008 when it bought a 5 percent stake in Liberty International, which two years later demerged into CSC and CapCo.
CSC and CapCo declined to comment. Simon Property was not available to comment. ($1 = 0.6199 pound)
(Reporting by Brenda Goh; Editing by Dan Lalor)
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