Nov 17 (Reuters) - Hudson's Bay Co HBC.TO :
* Sells US$533 million of equity in HBS Global Properties
* Proceeds , with cash on hand, will be used to reduce HBC's outstanding term
loan b borrowings from $1,085 million to $500 million
* Says will retain an approximate 63% ownership interest in hbs global
properties as a result of this transaction
* As part of the transactions, Ivanhoé Cambridge will be granted representation
on the board of directors of HBS Global Properties
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