(Bloomberg) — NWP Retail, a shopping mall developer backed by Warburg Pincus LLC, will spend $123.5 million buying five Lippo shopping malls in Indonesia.Two shopping malls will be acquired from the Indonesian units of Singapore-listed Lippo Malls Indonesia Retail Trust for $92 million while another three will be bought for $31.5 million from entities owned by PT Multipolar.The acquisitions represent “a milestone in NWP Retail’s rapid expansion,” CEO Timothy Daly said in an emailed statement Tuesday. “It will strengthen the company’s presence across key markets in tier 1 and tier 2 cities in Indonesia.”NWP Retail, a joint venture between Warburg …read more
Source:: Yahoo Finance
