Nicole DeBartolo Heldfond ?

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USA: A MERGER CREATES GIANT REAL ESTATE

Simon Property Group will buy DeBartolo Realty Corp., its traditional rival in the business of the development of shopping centers in the U.S., through a stock swap valued at U.S. $ 1,430 million. The transaction would create the largest U.S. real estate company

The transaction will merge the empires created by two pioneering families shopping: Edward J. DeBartolo of Youngstown, Ohio, who died 15 months ago at age 85, and Melvin and Herbert Simon, two brothers from Indianapolis known to impose the idea of ??shopping as a form of entertainment. The combined portfolio includes 112 shopping centers and 66 recreation centers in 32 U.S. states

The agreement, approved by both Boards on Monday evening, comes at a time when both companies strive to excel in a crowded scene and face strong competition from discounters.

The agreement was announced as a merger, but Simon's shareholders will be left with 60% of the new company and will control the board, the brothers will co-chair Simon, David, the son of Melvin, will remain chief executive and headquarters will remain in Indianapolis.

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Richard Sokolov, the chief executive of DeBartolo, will become president and COO of the new company.

The company, which will be called Simon DeBartolo Group, will handle the 7% of the area occupied by shopping centers across the U.S., almost two and half times more than its largest competitor. This scale will give you advantage in the negotiations for rental of premises by major retailers.

Sokolov, president and COO of DeBartolo, said the new firm will have a growth rate much faster and many more opportunities to increase your cash flow by reducing costs.

At a glance Simon Property Group Headquarters: Indianapolis, Indiana.

Activity: 62 regional malls and 55 recreation centers in 28 states, concentrated in Indiana, Illinois, Kansas and Texas.

Market Value: U.S. $ 2,300 million Total debt: U.S. $ 2,100 million in 1995 Turnover: U.S. $ 553.7 million.

DeBartolo Realty Corp.

Venue: Youngstown, Ohio.

Activity: 50 regional malls and 11 recreation centers in 16 states, concentrated in Ohio, Indiana and Florida.

Market Value: U.S. $ 1,400 million Total Debt: U.S. $ 1,600 million.

Turnover in 1995: U.S. $ 332.7 million Source: Simon Property, DeBartolo Realty, Green Street Advisors.

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imon Property Group opens first Premium Outlet Center (R) in South Korea

INDIANAPOLIS, June 1 / PRNewswire / -

Simon Property Group, Inc. (NYSE: SPG) announced today that its Chelsea division opened Yeoju Premium Outlets, the first Premium Outlet Center (R) of South Korea. The project is located on Expressway 50 - an east-west highway with heavy traffic - approximately 36 miles southeast of Seoul in Gyeonggi Province. Population within a 40-mile radius of Yeoju Premium Outlets is approximately 9 million people.

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The first phase of the project, with an area of ??250,000 square feet has already been opened and leased to 120 tenants including A. Testoni, Adidas, Anna Molinari, Anna Sui, Armani, Bogner, Brooks Brothers, Burberry, Callaway Golf, CK Jeans, Coach, Columbia Sportswear, Diesel, DKNY, Dolce & Gabbana, Dunhill, Ermenegildo Zegna, Escada, Furla, Givenchy, Gucci , Hugo Boss, Levi's, LeSportsac, Mango, Marks & Spencer, MaxMara, Nike, NineWest, Oilily, Ping Golf, Polo Ralph Lauren, Puma, Reebok, Royal Copenhagen, Salvatore Ferragamo, Samsonite, ST Dupont, St. John, Theory, Tommy Hilfiger, TSE, Valentino and Vivienne Westwood. About 90% of the center has been leased to international brands, and between Korean domestic brands including Bean Pole, Kim Young Joo, Kuho, Solid Homme and Hazzys. The center also includes nine restaurant and food chains. The project is expected to grow about 100,000 square feet of gross leasable area.

Yeoju Premium Outlets is the first project to be completed by Shinsegae Chelsea Co., Ltd., a joint venture between Simon (50%) and Shinsegae Co., Ltd. and Shinsegae International Co., Ltd. (together 50%). Shinsegae is one of the major retailers in Korea, and opened its first store in the country in 1930. Currently has seven upscale department stores located primarily in the Seoul region, as well as 112 E-Marts, which make up the discount retailer's largest and most successful of Korea. Through its subsidiary Shinsegae International, Shinsegae is also a leading fashion distributor in Korea and manages and operates nine upscale independent stores worldwide - including the reference stores of Armani, Coach, Dolce & Gabbana, Escada and St. John in Seoul - and about 250 stores.

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Leslie T. Chao, CEO of Chelsea and chairman of the joint venture, said: "The growing prosperity of Korea and the increase in sophisticated consumer tastes make it a natural market for upscale outlets. Yeoju Premium Outlets brings together a collection of brands unprecedented in Korea, a unique outdoor setting and a location convenient to a large segment of the population of greater Seoul. We are very pleased to be opening in Korea through the first project, which has an extremely high quality. "

For more information on Yeoju Premium Outlets, see www.premiumoutlets.co.kr.

Simon Property Group, Inc. is included in S & P 500 company and the largest public U.S. real Simon is a fully integrated real estate company which operates through five retail real estate platforms: regional malls, Premium Outlet Centers (R), The Mills (R), community centers / lifestyle and international properties. It currently owns or has interests in 382 properties comprising 258 million square feet of gross leasable area in North America, Europe and Asia. The company is headquartered in Indianapolis (Indiana) and employs over 4,500 people worldwide. Simon Property Group, Inc. trades on the NYSE under the symbol SPG and has a current total market capitalization of about 56,000 million dollars. For more information visit the company website at www.simon.com

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Simon Property Group (SPG) The company behind the Sawgrass Mills

Anyone who has visited Miami, probably went through the mall called Sawgrass Mills outlets. This complex located near Fort Lauderdale premises concentrated settlement of all major brands. You can find Calvin Klein, Timberland, Polo, Sony, Guess and Sports Authority, among others.

A recent press release indicated that Sawgrass Mills was the second most important business throughout the state of Florida after Disney World. Impressive, no?

There is a publicly traded company behind the Sawgrass. This company is called Simon Property Group, the ticker is GSP.

Some interesting facts from GSP:

1. Nearly 25% of inside owners.

2. An operating margin of 16.34%

3. Pay dividends of 3.52%

4. A p / e of 15.21

5. A ROE of 19.36

GSP handles numerous malls and regional malls. It is an interesting holding that combines real estate activities with the commercial exploitation of their commercial complexes.

The action of GSP trading at $ 95 and is an interesting time for a Strong Buy in for the longer term.

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