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Simon and Bailian Group to develop a Premium Outlet Center in China
Shanghai, China -- Indianapolis-based Simon Property Group, along with Chinese retail conglomerate Bailian Group, announced plans to jointly develop a branded Premium Outlet Center in Pudong, Shanghai, China.
Simon Property Group is the world's largest developer, owner and operator of outlet shopping centers, with interests in 70 Premium Outlet Centers located in the United States, Japan, South Korea, Malaysia, Mexico and Puerto Rico.
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A&P wins bankruptcy plan approval
New York City -- The U.S. Bankruptcy Court in White Plains, N.Y., approved the Great Atlantic & Pacific Tea Co.’s plan to exit bankruptcy plan. The supermarket company filed Chapter 11 in December 2010.
The reorganization plan includes $490 million in debt and equity financing from Ron Burkle’s Yucaipa Cos.