Jones Day Reps DDR In Deal For $1.5B Mall Stake

Law360, Los Angeles (May 15, 2013, 8:39 PM EDT) -- Shopping center owner DDR Corp. will pay $1.46 billion to buy Blackstone Real Estate Partners VII's 95 percent common equity ownership interest in 30 of the 44 malls the companies own through an existing joint venture, DDR said Wednesday.

DDR has executed a purchase and sale agreement for the deal, under which it has the right to issue common shares worth up to $250 million to Blackstone. The parties are expected to close the deal, which is subject to customary closing conditions, in the fourth quarter...
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