CSC shareholders approve acquisition of Peel Group estates

Shareholders from CSC have approved the acquisition of land from the Peel Group.

Capital Shopping Centres (CSC) has voted to approve the acquisition of two sites from the Peel Group.

It has therefore given the green light to the purchase of 30.96 acres in King George V Docks West and a piece of real estate in the Spanish region of Malaga.

More than 90 per cent of shareholders approved the former initiative, while 81.35 per cent of voters agreed upon the latter, during a general meeting on February 17th at 40 Broadway, London.

CSC has used negotiation skills to expand its holdings of UK shopping centres in the past, buying Manchester's The Trafford Centre on January 28th 2011.

Currently, it owns 16 million sq ft of retail space, valued at £6.7 billion.

Previously, CSC was called Liberty International but altered its name during a demerger of activities in central London during May 2010.

This resulted in the creation of a new firm called Capital and Counties Properties, or Capco.

Posted by Ron Maverick

Source: CSC press release, February 17th