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DDR to spin off $3 billion portfolio into separate publicly-traded REIT

December 2017

Jones Day is advising DDR Corp. in its spin-off of a portfolio of 50 assets, comprised of 38 Continental U.S. assets and the entirety of the Puerto Rico portfolio into a separate publicly-traded REIT to be named Retail Value Trust ("RVT"). Shareholders of DDR will receive shares of RVT via a taxable pro rata stock distribution. The transaction is subject to certain conditions, including the effectiveness of RVT's Form 10 registration statement and final approval and declaration of the distribution by DDR's Board of Directors. The transaction does not require shareholder approval.

For additional information about this matter, please contact: James P. Dougherty, Lyle G. Ganske

Client(s): DDR Corp.
Practice(s): M&A, Real Estate, Tax