Simon Property Group to Acquire Majority Stake in Taubman Centers for $3.6 Billion

Paul, Weiss is advising Simon Property Group, Inc., a global leader in premier shopping, dining, entertainment and mixed-use destinations, in its $3.6 billion all-cash acquisition of an 80% ownership interest in The Taubman Realty Group Limited Partnership, the operating partnership of Taubman Centers, Inc. Taubman Centers owns, manages and/or leases 26 regional, super-regional and outlet shopping centers in the United States and Asia. The transaction is expected to close in mid-2020, subject to customary closing conditions.

The Paul, Weiss team included, among others, corporate partners Robert Schumer, Michael Vogel and John Kennedy and counsel Patricia Vaz de Almeida; litigation partner Lewis Clayton; tax partners David Sicular, Lindsay Parks and Scott Sontag; real estate partner Salvatore Gogliormella; employee benefits partner Lawrence Witdorchic; personal representation partner Alan Halperin; and antitrust counsel Marta Kelly and Yuni Sobel.