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Johannesburg - Capital Shopping Centres Group (CSO) said on Wednesday that it had disposed of its US subsidiary, Capital and Counties USA to Equity One.
Capital Shopping Centres Group will receive 4.1 million shares of Equity One common stock and 11.4 million joint-venture units.
The group may redeem its units in the joint venture for cash or, at Equity One's discretion, Equity One common stock on a one-for-one basis.
Capital Shopping Centres Group intends to retain its interest in Equity One and the joint venture in order to participate in its growth potential.
