Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Simon Property Group Inc    SPG   US8288061091

News SummaryMost relevantAll newsSector news 

Simon Property To Develop Outlet Centers In Brazil

04/10/2012 | 06:53am US/Eastern

Simon Property Group Inc. (>> Simon Property Group, Inc) joined forces with Brazil's largest shopping center operator, BR Malls Participacoes SA (BRML3.BR), to develop and own Outlet Centers in Latin America's largest nation.

The joint venture will be equally and jointly owned by Simon Property and BR Malls to develop and own outlet centers across Brazil. The first outlet center of the joint venture is expected to be open in the country's largest state of Sao Paulo in 2013, the companies said in a joint statement late Monday.

According to the local financial newspaper Valor Economico, the companies plan to invest a total of 1.5 billion Brazilian reais ($825 million) to open 12 out lets centers until 2019.

"We already welcome large numbers of Brazilian visitors to our outlet centers in the United States, such as Woodbury Common Premium Outlets, Orlando Premium Outlets and Sawgrass Mills, and we look forward to also serving these valued shoppers in Brazil," said John Klein, President of Simon's Premium Outlets division.

-By Rogerio Jelmayer, Dow Jones Newswires; 55-11-3544-7071;

Stocks mentioned in the article : Simon Property Group, Inc
React to this article
05/23 SIMON PROPERTY : Mall operator bilked of $20M, investigators say
05/23 SIMON PROPERTY : Mall operator bilked of $20M, investigators say
05/22 SIMON PROPERTY : Officials: Whistle-blower in Simon Property Group theft case fo..
05/20 SIMON PROPERTY : FDLE: Last suspect in $20M Simon Property Group theft remains a..
05/20 SIMON PROPERTY : FDLE: Central Florida family, friends stole $20M from Simon Pro..
05/19 SIMON PROPERTY : FDLE: Locals stole $20M from Simon Property Group
05/15 SIMON PROPERTY : Expands At Key Properties Across U.S.
05/14 SIMON PROPERTY : Property Group Opens Expansion Of Las Vegas North Premium Outle..
05/14DJHigher Rental Income, More Shoppers Propel Westfield
05/14DJHigher Rental Income, More Shoppers Propel Westfield -- Update
Duration : Period :
Simon Property Group Inc Technical Analysis Chart | SPG | US8288061091 | 4-Traders
Income Statement Evolution
More Financials