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Aim-listed landlord NewRiver Retail (Aim: NRR) has formed a joint venture with a subsidiary of Pimco, the world's largest bond investor, to invest in value shopping centres across Britain. The new vehicle will be seeded with a portfolio of five malls - in Leamington Spa, Cowley, Kilmarnock, Bridlington and Hull - which it has bought from Zurich Assurance for £85m.