J. C. Penney (JCP) Completes Sale of LP Interests in Simon Property (SPG) Unit for $248M

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J. C. Penney Company, Inc. (NYSE: JCP) today announced that Simon Property Group, Inc. (NYSE: SPG) has redeemed two million units of limited partnership interest in Simon's operating partnership subsidiary, Simon Property Group, L.P., from jcpenney for cash consideration of $248 million. Simon Property Group, L.P. is the operating partnership of Simon Property Group, Inc.

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