Equity One to Acquire Capital and Counties USA Inc.

Skadden is representing Capital Shopping Centres Group PLC in connection with the acquisition of its U.S. subsidiary, Capital and Counties USA Inc. (C&C USA), by Equity One, Inc. through a joint venture with Capital Shopping Centres. The transaction, announced May 23, is valued at approximately $600 million. C&C USA owns a portfolio of 15 retail properties in California. Capital Shopping Centres is one of the U.K.'s largest listed property companies and a real estate investment trust (REIT). Equity One is an owner, developer and operator of shopping centers and a U.S. publicly traded REIT.