SINGAPORE (Dec 18): The Straits Trading Company is taking up a 37.7% stake in a joint venture with ARA Asset Management and ICBC International Investment Management to acquire a retail mall in Shanghai, China for RMB 2.42 billion ($469.5 million), the group announced in a regulatory filing on Tuesday.

The arrangement was entered into by SRE Venture 16 (SREV16), a wholly-owned subsidiary of Straits Real Estate.

Straits Trading owns a 89.5% stake in Straits Real Estate, a co-investment vehicle that seeks out real estate related investments and opportunities globally.

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