New York, NY -- (ReleaseWire) -- 02/25/2013 -- Morgan Stanley (NYSE:MS) bought a Moscow shopping mall, The Metropolis, in the biggest acquisition of a Russian retail property, according to the New York-based bank.
A fund managed by Morgan Stanley acquired Metropolis Shopping and Entertainment Mall from Capital Partners, the Kazakh developer that opened the property in 2009. The deal follows Morgan Stanley Real Estate Fund VII’s $1.1 billion purchase of the Galeria mall in St. Petersburg last year.
“The acquisition of Metropolis will deliver operational synergies and strategic benefits associated with owning two prime shopping centers in Russia,” said Morgan Stanley, which described the purchase as the largest ever in the country’s commercial real estate market.
Find out more on MS here: http://www.wallstreetreport.net/market-scan/?symbol=MS
American International Group, Inc. (NYSE:AIG) reported a net loss of $4.0 billion, or $2.68 per diluted share, for the fourth quarter ended December 31, 2012, compared with net income of $21.5 billion, or $11.31 per diluted share, in the prior year quarter. Full year 2012 net income was $3.4 billion, or $2.04 per diluted share, compared with $20.6 billion, or $11.01 per diluted share, for the full year of 2011.
“AIG’s operating profit this quarter shows the power and financial strength of our diverse global franchise,” said Robert H. Benmosche, AIG President and Chief Executive Officer.
American International Group, Inc. engages in the provision of insurance products and services for the commercial, institutional, and individual customers in the United States and internationally.
Find out more on AIG here: http://www.wallstreetreport.net/market-scan/?symbol=AIG
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