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Simon Still Expects April Rodamco Closing

INDIANAPOLIS-The regional mall owner and operator expects to acquire its 30% of Rodamco North America NV in April, according to a presentation Tuesday to Credit Suisse First Boston's real estate conference.

By Mark Ruda | Updated on February 26, 2002

INDIANAPOLIS-Simon Property Group still expects to acquire 30% of Rodamco North America NV for $1.55 billion, picking up 13 regional malls that are generating sales in excess of $500 per sf, company officials indicated to Credit Suisse First Boston’s real estate conference Tuesday. In a presentation, Simon Property Group says it expects the deal to close in April.

However, a Rodamco shareholder’s meeting set for Tuesday has been postponed by the Enterprise Chamber of the Amsterdam Court of Appeal. Rodamco, which agreed to be bought for $5.3 billion by a joint venture that includes Simon, The Rouse Co. and West America Trust, hopes to reschedule the shareholder’s meeting as soon as possible after a March 21 hearing.

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