Canada Pension Plan ups stake in Bullring with £170m swoop

The Canada Pension Plan Investment Board (CPPIB) it set to increase its stake in Birmingham’s Bullring, according to reports.

CPPIB has swooped for Nuveen Real Estate’s share of the shopping centre, according to React, in a deal that values it at almost half of what it was worth a decade ago.

React says the deal is close to being signed.

CPPIB first invested in the Bullring in 2013, when it bought a 16.7% stake from Australia’s Future Fund.