Member access

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

SummaryQuotesChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll 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
Recommend :
React to this article
4d ago GLIMCHER REALTY : NYSE:GRT) Investor Alert: Investigation of Takeover by Washing..
6d ago SIMON PROPERTY : Recognized For Leadership In Sustainability And Reporting Trans..
6d ago SIMON PROPERTY : AC Hotels by Marriott To Arrive At Phipps Plaza
09/18 SIMON PROPERTY : : Announces ' : Launch' Retail Startup Competition In Collabora..
09/18 SIMON PROPERTY : : and NRG eVgo Celebrate National Drive Electric Week with Char..
09/16 GLIMCHER REALTY : Mall mashup: Washington Prime to buy Glimcher
09/16 SIMON PROPERTY : Franklin Mills To Undergo Major Redevelopment And Name Change T..
09/15 SIMON PROPERTY : Sets Price of Tender Offers for 5 Series of Senior Notes
09/15 SIMON PROPERTY : Prices Tender Offers for 5 Series of Senior Notes
09/11 SIMON PROPERTY : Upcoming Earnings and Conference Call Schedules, Acquisition Up..
Duration : Period :
Simon Property Group Inc Technical Analysis Chart | SPG | US8288061091 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes