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Riocan CEO Edward Sonshine speaks to shareholders during the RioCan annual general meeting held in Toronto, Ont. June 7, 2011.
Riocan CEO Edward Sonshine speaks to shareholders during the RioCan annual general meeting held in Toronto, Ont. June 7, 2011.
(Kevin Van Paassen/The Globe and Mail)

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RioCan’s deal making distracts from troubling payouts

Every month now, it seems like there’s a new major announcement from RioCan.

Chief executive officer Edward Sonshine’s latest plans include: expanding on his own in the U.S., breaking a joint venture his REIT signed just two years ago; inking a partnership with Allied Properties to scoop up mixed-use urban sites and develop them together; and now getting in on the hostile bid to acquire Primaris Retail REIT.