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(Reuters) – Intu Properties Plc, a British operator of shopping centers, announced Thursday the creation of a joint venture with Cale Street for the Intu Derby shopping center.
Cale Street Investments, an investment company supported by the Kuwait Investment Bureau, would acquire a 50% interest in the property for £ 186.3 million.
The company said the proposed transaction advanced Intu's plan to reduce the debt-to-badet ratio through divestitures and partial divestments.
Reportage of Samantha Machado in Bengaluru; Edited by Bernard Orr
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