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DDR files registration statement for planned spinoff

DDR Corp. filed the Form 10 registration statement for its planned spinoff with the SEC, after finalizing the record and distribution dates for the spinoff.

The shopping center real estate investment trust will spin off 37 continental U.S. assets and all 12 of its Puerto Rico assets into a separate publicly traded company to be called Retail Value Inc., which will list its common shares on the NYSE under the ticker symbol RVI.

The move will be brought about by distributing all the shares of the new entity to DDR shareholders, with shareholders receiving one common share of Retail Value for every 10 common shares of DDR held at June 26 close. DDR expects to distribute the new shares on or about July 1.

The completion of the spinoff is conditional upon the SEC declaring the Form 10 effective, among other things.