Article: BRIEFING - ASIA RETAIL - MAY 16, 2007.

An executive briefing on retail for May 16, 2007, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.

BABCOCK & BROWN BUYS US MALL OPERATOR

SYDNEY - Investment firm Babcock & Brown Ltd (ASX:BNB) has bought a regional mall owner and operator in the US, marking its third major investment in the North American retail real estate market.

B&B will acquire Gregory Greenfield & Associates Ltd (GG&A) and a portfolio of eight regional malls that the target currently manages and controls for an undisclosed sum.

JAPAN'S YAKULT TO REVISE ALLIANCE ...

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