(Tweaks headline, adds details of interview with CEO throughout)
SAO PAULO, Nov 25 (Reuters) - Aliansce Shopping Centers SA is eyeing acquisitions across Brazil's mall industry as a way to fuel growth in the near term, although prices seem too stretched at this point, Chief Executive Officer Renato Rique said on Friday.
As part of that strategy, Aliansce ALSC3.SA could seek partners to jointly bid for the 35 percent stake that General Growth Properties Inc (NYSE:GGP) GGP.N has in upscale mall Shopping Leblon in Brazil's second-largest city of Rio de Janeiro, he said.
These partners could be Singapore's GIC sovereign fund and the Canada Pension Fund Investment Board, Rique told Reuters on the sidelines of a meeting with investors and analysts in São Paulo.
Aliansce could sell non-essential assets - including land plots, buildings and malls that cannot be expanded - to help fund new purchases, he and other executives said.
Aside from these potential divestments, Aliansce would consider another capital raise, Rique said, alluding to a recently concluded 600 million reais equity offering that enabled it to buy a 25.01 percent stake in Shopping Leblon.
"The involvement of other partners in potential acquisitions would help us write a smaller check," Rique said.
Based on future cash-flow projections and cash in hand, Alisance already has 300 million reais ($87.6 million) available to invest in potential M&A deals, said Rique.