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Mexico's Ara suspends malls' collective sale

Published Mon, May 19, 2014 · 10:00 PM
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[SAO PAULO] Consorcio Ara SAB has suspended an auction to sell a group of about US$387 million of shopping malls and is now considering selling the centres individually.

The company was working with Morgan Stanley on the sale of the malls, which the Mexico City-based builder co-owns with New York-based private-equity firm O'Connor Capital Partners Inc, said investor relations official Alicia Enriquez. While the contract with Morgan Stanley is still valid, Ms Enriquez said the formal sale process stalled when the top bidder fa…

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