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BAA Pulls Out of McArthurGlen Outlet Mall Venture

LONDON-Joey Kaempfer's McArthurGlen and airports operator BAA have broken up their highly-successful outlet mall venture BAA McArthurGlen. Although the business captured a massive 36% of the European outlet market, BAA is known to have seen it as a distraction from its core operations.

By Graham Parker | Updated on September 18, 2002

LONDON-BAA McArthurGlen, the joint venture between US investor Joey Kaempfer and airports operator that dominates Europe’s outlet mall industry, is to be dissolved. BAA has pulled out in order to concentrate on its core airport business.

The BMG joint venture was established in 1993 and has developed 12 malls totalling nearly three million sf in the UK, France, Austria, Italy and Holland. But BAA was known to be uncomfortable and had been looking for buyers for its 50% stake in the business.

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