March 23rd, 2012French Mall Operator Looks to Simon for Know-How
Indianapolis, IN - Simon Property Group Inc.’s cutting-edge experience as the biggest U.S. mall owner will help Klepierre SA boost rental income at its shopping centers, the French company’s CEO says.
Simon became the biggest shareholder in Klepierre, Europe’s second-largest publicly traded mall operator by value, last week after the Indianapolis-based company bought a 28.7-percent stake for about $2 billion.
“Simon has a savoir-faire that’s a step ahead of European companies,” Klepierre CEO Laurent Morel, 49, said this week. “In terms of marketing, there will be significant gains.”