British Land forms £1.5 billion (US$2.4 billion) joint venture with Norges Bank regarding one of UK's top super-regional shopping centers
Clients British Land Company PLC, The
Jones Day advised The British Land Company PLC regarding their joint venture with Norges Bank Investment Management following Norges acquisition of London & Stamford's 50% shareholding in Meadowhall Shopping Center for £1.5 billion (US$2.4 billion). The new joint venture includes the Meadowhall Shopping Center along with 74 acres of adjoining development land. The agreement creates a new strategic partnership for Meadowhall, one of the UK's largest super-regional shopping centers and brings together the UK's largest listed retail landlord and one of the world's largest sovereign wealth funds. British Land will continue to manage the shopping center.