Taubman Centers Announces Sale of 1.75M Common Shares to Goldman Sachs

Taubman Centers, Inc. (NYSE:

) today announced the sale of 1,750,000 common shares to Goldman, Sachs & Co. as the sole underwriter in an underwritten public offering pursuant to its effective shelf registration statement filed today with the Securities and Exchange Commission. The underwriter will be granted a 30-day option to purchase up to an additional 262,500 common shares. The Company intends to use the net proceeds of this offering to reduce outstanding borrowings under its $615 million revolving credit facilities.