Trafford sale gets the green light
Published: 27 January, 2011
Capital Shopping Centre shareholders approve Trafford Centre purchase
The long-delayed Extraordinary General Meeting of Capital Shopping Centres' shareholders resoundingly approved its £1.6bn purchase of the Trafford Centre Group.
Simon Property Group, which owns 5.6 per cent of CSC stock, failed in its attempt to convince frellow shareholders to vote down the deal. In all 82.39 per cent of shares were voted in favour of the purchase
CSC chairman Patrick Burgess said: “I am delighted by the overwhelming support from our shareholders for the acquisition of the Trafford Centre, which is value enhancing for CSC and will strengthen CSC’s position as the leading operator of pre-eminent UK regional shopping centres. We are glad to welcome John Whittaker to the board as deputy chairman and look forward to the contribution of his considerable expertise to the board.”
