BEIJING-Two US firms have separately announced that they have taken over firms in Asia. Bloomfield Hills, MI-based Taubman Centers has acquired a 90% controlling interest in Beijing-based TCBL Consulting, and Chicago-based Jones Lang LaSalle has taken over Procon, based in Jakarta, Indonesia.
Taubman takes over TCBL Consulting Ltd., a retail consultant company with seven offices on mainland China. Taubman subsidiary Taubman Asia will pay $12 million in cash for the controlling interest, and will credit the non-controlling owners with about $12 million in the newly formed company, Taubman TCBL. The transaction has been approved by the board of directors of both firms, and is expected to close in October.
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