CPP Investment Board acquiring stake in second Spanish shopping mall for 311M

TORONTO — The Canada Pension Plan Investment Board is preparing to buy a half-interest in a Spanish shopping centre for the equivalent of about $311 million.The Toronto-based fund manager says the Puerto Venecia shopping centre in Zaragoza, Spain, would be owned by a new joint venture between the CPPIB and Intu Properties PLC.They already have a partnership through the Parque Principado shopping centre in Oviedo, Spain, which they acquired in October 2013.Intu owns and operates mostly U.K. retail and leisure properties and has been growing in the Spanish market.It bought Puerto Venecia in January for 451 million euros, or $623 million at current exchange rates. CPPIB will pay 225.4 million euros for a 50 per cent interest in the property.The CPPIB invests money on behalf of the Canada Pension Plan. As of March 31, it managed assets worth $264.6 billion.The Canadian PressCPPIB sees buying opportunities: WisemanCPPIB the new landlord for Uber, Square after acquiring stake in San Francisco headquarters read more

DMK President Stalin slams Sri Lankan court ruling

In January this year, the Sri Lankan parliament passed a bill to impose a huge fine on fishermen crossing the border. “The DMK opposed the Act passed by Sri Lanka to fine Indian fishermen, but the Centre did not bother to oppose it,” he said.Stalin wanted the Centre to hold talks with the Sri Lankan government and ensure that the fishermen from Tuticorin return home. (Colombo Gazette) Tamil Nadu’s DMK President M K Stalin today expressed shock over a Sri Lankan court imposing a fine of Indian Rs 60 lakh each on eight Indian fishermen arrested on August 8 this year for fishing in the territorial waters of the island nation. Stalin said imposing such a huge fine is violation of human rights, the Times of India reported.“It is shocking to know that a Sri Lankan court, a few days ago, directed eight fishermen from Tuticorin to pay Rs 60 lakh each as fine and sentenced them to three months imprisonment,” Stalin said in a statement. He said, “Even though we call Sri Lanka a friendly country, it has hit India on its back by arresting the fishermen and imposing fine them.” Stalin said the BJP government at the Centre and the AIADMK government in Tamil Nadu had not spoken out against the judgment. read more