Simon set to sign £3bn loan to fund Capital Shopping Centres takeover

first_imgTuesday 4 January 2011 12:13 am Simon set to sign £3bn loan to fund Capital Shopping Centres takeover Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof whatsapp Show Comments ▼ Tags: NULLcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So ALL EYES will be on US real estate firm Simon Property this week as it signs loan agreements to fund a formal bid for UK mall owner Capital Shopping Centres worth around £3bn. Simon has until 12 January to formalise its 425p per share offer for the FTSE 100-listed firm after the City”s Takeover Panel issued a “put up or shut up” notice last month. America’s biggest retail property group Simon said last week it had agreed terms for a loan of around £3bn with Citigroup, Deutsche Bank, Goldman Sachs and Morgan Stanley. The loan facility announced would more than cover a bid at 425p per share, excluding Simon’s existing 5.1 per cent stake, though the exact terms of the loan are not finalised.Analysts have previously voiced concerns that a bid at the current price would not be enough to persuade CSC investors to sell their stakes. Simon first approached Capital in November, in an attempt to frustrate the firm’s £1.6bn deal to buy the Trafford Centre near Manchester.Simon has said it will not make a deal unless the Trafford purchase from Peel Holdings is scrapped, and it has access to CSC’s books to undertake due diligence. Capital has so far rejected Simon’s requests. Capital is due to hold a shareholder meeting on 26 January to approve the takeover of the Trafford Centre, after delaying the vote in the wake of Simon’s advances. whatsapp KCS-content Sharelast_img

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