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Article: CBL mall deal offers developer big stake with major caveats.(CBL & Associates Properties Inc. of Chattanooga, Tennessee buying malls from Richard E. Jacobs Group)(Brief Article)(Statistical Data Included)
- Article from:
- Crain's Cleveland Business
- Article date:
- October 9, 2000
- Author:
CopyrightCOPYRIGHT 2000 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Richard E. Jacobs Group real estate firm is agreeing to wear golden handcuffs for a very long time as part of the pending sale of 21 malls and two shopping centers to CBL & Associates Properties Inc. of Chattanooga, Tenn.
One provision of the sale precludes Richard E. Jacobs, chairman and chief executive officer of Westlake-based Jacobs Group, from competing for 10 years in areas where CBL owns malls, according to a CBL filing with the Securities and Exchange Commission. For its part, CBL has agreed not to engage for 12 years in transactions involving the malls that would result in tax consequences for Jacobs Group.
The proposed sale is the first ...
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Article: Retail Developer CBL to Buy Control of More than 20 Malls ...
Knight Ridder/Tribune Business News;
September 28, 2000 ;
700+ words
... ... number of malls owned by CBL, the Chattanooga-based ... properties in 25 states. CBL is buying most of the malls controlled by The Richard E. Jacobs Group Inc. of Cleveland, Ohio. The purchase would make CBL, already the nation's ...
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