Simon DeBartolo Changing Name
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Simon DeBartolo Group, the U.S.’ largest shopping mall developer, is changing its name back to Simon Property Group, four months after the resignation of Edward DeBartolo Jr. from the company’s board.
The Indianapolis-based company said the change has been approved by its board and that it expects it to become effective on the completion of its $5.8-billion purchase of Corporate Property Investors Inc.
The resignation came amid reports that DeBartolo, son of the late family patriarch, Edward DeBartolo Sr., was being investigated by a federal grand jury looking into whether he committed fraud in connection with a Louisiana casino license he won.
Simon DeBartolo Group was formed in 1996 after the DeBartolo family sold its shopping mall business to Simon Property Group.
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