CROESUS Retail Trust has sold its stake in Japanese shopping mall - Croesus Shinsaibashi - for 20.8 billion yen , its trustee-manager said on Monday morning.
Mangosteen TMK, in which the trust indirectly holds 49 per cent of the preferred shares and 27.27 per cent of specific shares, disposed of its entire interest in the Osaka property. The sale price was arrived at on a willing-buyer and willing-seller basis, taking into account the valuation of the property, trustee-manager Croesus Retail Asset Management said.None of the trust’s directors has any interest, direct or indirect, in the disposal.
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