Taubman Sells Shares of Three Asian Shopping Centers

Feb 18, 2019Updated May 18, 20251 min read

US retail property specialist Taubman Centers is to sell a 50 per cent stake in three of its shopping centres in China and Korea to funds managed by private equity company Blackstone Group. The deal, worth US$480-million, is expected to be settled later this year and will net Taubman about $315 million according to financial news reports. The company will maintain a share of up to 25 per cent in each property.

Post settlement, Taubman will be contracted for the ongoing management of the centres.

The centres are South Korea’s Starfield Hanam, and China’s CityOn Xi’an and CityOn Zhengzhou.

Taubman manages a 26 regional, super-regional and outlet shopping centres in the US and Asia, and has another property under development. CEO Robert S Taubman said the sale was part of a strategy of recycling capital for growth.

Tags

About the author

Mei Ling Tan

Contributor · RetailNews.asia

Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

Asia's retail intelligence, in your inbox