Blackstone buys Dutch mall developer Multi Corp

Reuters

LONDON, Oct 3 (Reuters) - U.S. private equity giantBlackstone said on Thursday it had completed itsacquisition of Dutch shopping centre Multi Corporation.

The deal is likely to boost Blackstone's presence in Turkey,where Multi is the largest owner and manager of shoppingcentres. Multi currently owns or manages 56 malls across 13European countries.

No value for the deal was disclosed.

Reuters reported in July that Blackstone was planning to buyMulti after it amassed about half of Multi's estimated 900million euros of debt at steep discounts. The EuropeanCommission gave the take over the green light in August.

"Our acquisition has significantly strengthened Multi'sfinancial position, and its portfolio includes some of thehighest quality retail real estate in Europe," said Blackstone'sHead of European Real Estate Ken Caplan.

"Blackstone and Multi together look forward to future growthand expansion opportunities in European retail," he said.

Blackstone bought three Turkish malls from Dutch firmRedevco last year, which it could merge with Multi's Turkishproperties, a source told Reuters in August.

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