News Column

Canada : CITYCON OYJ raises 400 million in FRESH CAPITAL

May 14, 2014

A 400 million has been raised by Tel Aviv-based Gazit-Globe`s Finnish subsidiary, Citycon Oyj in fresh capital.

About 206 million is being endowed by the Canada Pension Plan Investment Board (CPPIB), via its subsidiary CPP Investment Board European Holdings S.A for 77.9 million shares.

The CPPIB will control around 15% of Citycon Oyj s outstanding shares prior to the rights issuance. The CPPIB has over US$ 20 billion allocated to global real estate. In addition, the Finnish pension fund Ilmarinen Mutual Pension Insurance Company participated in the capital raise. After the rights issuance Gazit-Globe will control around 45% of Citycon Oyj.

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Source: TendersInfo (India)

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