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Government of Singapore Invests in British Mall

The Government of Singapore Investment Corporation (GIC) has paid nearly 300 million pounds (US$613 million) for a 50 percent stake in a British shopping mall, a statement said Tuesday.

GIC Real Estate, the property arm of the state investment agency, acquired the stake through an affiliate in WestQuay Shopping Centre in Southampton from Hammerson plc, it said.

GIC said its stake will be held under a joint venture partnership with Hammerson.

More at Channel NewsAsia.

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