"We are pleased to announce the successful completion ofCentro's acquisition of New Plan, and we are excited with theopportunity this acquisition represents for Centro," says AndrewScott, Centro CEO, in a statement. "Centro Watt's fully integratednational platform is well placed to manage the diverse style andgeographic mix of its expanded US retail property platform."

As of Thursday, 88% of the outstanding New Plan shares hadtendered and accepted payment MergerSub's offer. MergerSub plans toutilize its top-up option as $33.15 per share. All outstanding NewPlan shares are worth $33.15 per share in cash.

Centro, an Australian company, has gained 467 shopping centersin 38 states through the New Plan deal. Last year, Centro completeda $3.2-billion acquisition of Heritage Property Investment Trusttaking 171 centers in that deal, as well as a $610-million deal forthe 93-property Kramont Realty Trust in 2004.