(Reuters) - Landlord British Land Co Plc said on Monday it has exchanged contracts for the sale of its 50% stake in Meadowhall Shopping Centre to its partner Norges Bank Investment Management for 360 million pounds ($457.3 million).
The divestment is in line with the company's strategy to focus on retail parks and reduce exposure to covered shopping centres, the Broadgate owner said in a statement.
($1 = 0.7872 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Sohini Goswami)