UPDATE 1-HBC to form real estate joint ventures in U.S., Canada
February 25, 2015 at 08:20 AM EST
TORONTO, Feb 25 (Reuters) - Canadian retailer Hudson's Bay said on Wednesday it had agreed to form two real estate joint ventures that would bring in about C$1.1 billion in cash, reducing its debt, and paving the way for an initial public offering or alternate transaction.