CPPIB, GIC partner in $263 mln buy of South Korea's D-Cube Retail Mall
Canada Pension Plan Investment Board (CPPIB) and GIC, Singapore's sovereign wealth fund, have formed a joint venture partnership to purchase D-Cube Retail Mall, a retail mall located in Seoul, South Korea. D-Cube, which will be rebranded as Hyundai Department store and will be operated by South Korean retail operator Hyundai, was sold by Daesung Industries for a total consideration of US$263 million. Upon completion of the transaction, CPPIB and GIC will each own a 50 percent stake in the asset.
19 May 2015•3 mins read
