Canada's CPPIB to buy stake in Brazil's Aliansce for $480 mln

TORONTO, July 29 Mon Jul 29, 2013 5:24pm EDT

TORONTO, July 29 (Reuters) - The Canada Pension Plan Investment Board, one of the world's top pension funds, said on Monday it has agreed to acquire a 27.6 percent stake in Brazil's Aliansce Shopping Centers SA from General Growth Properties for an equity amount of $480 million.

Rio de Janeiro-based Aliansce, one of Brazil's top publicly traded real estate operating companies, is focused exclusively on owning, managing and developing enclosed shopping centers.

The deal is expected to close in the fall of this year.

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