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Announced

Completed

SCA Property and GIC formed a $750m joint venture.

Financials

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Transaction Value£566m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Single Bidder

shopping centre operator

Private Equity

Friendly

Joint Venture

Real Estate Holding and Development

Cross Border

Acquisition

shopping centre

Majority

Australia

Private

Completed

Synopsis

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SCA Property, a shopping centres Australasia property company, and GIC formed a $750m joint venture. GIC will own 80% of the joint venture, still subject to Foreign Investment Review Board approval. SCA Property will use the money to pay down debt and is looking to buy more assets in Melbourne, Sydney and Brisbane for the new investment vehicle, known as the SCA Metro Convenience Shopping Centre Fund.

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