US shopping centre owner Simon Property Group (SPG) has completed the acquisition of a 28.7% equity stake in its Paris-listed peer Klepierre. The 54 million shares were sold by BNP Paribas for EUR 28 per share, or a total transaction value of EUR 1.5 bn. David Simon, chairman and chief executive officer of SPG, was appointed chairman of Klepierre's nine member Supervisory Board. Two other SPG representatives, Steven Fivel and Francois Kayat, were also appointed as members of Klepierre's board.
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