Developers Diversified Realty Announces Forward Sale Agreements of 9.5M Shares

Developers Diversified Realty Corporation DDR today announced that it has entered into an agreement in connection with the sale of 9,500,000 of its common shares in a public offering. The offering will consist of 4,750,000 million common shares to be borrowed and sold by Citigroup Global Markets Inc. and 4,750,000 million common shares to be borrowed and sold by Morgan Stanley & Co., Incorporated. In connection with the offering of its common shares, Developers Diversified has entered into forward sale agreements with Citigroup Global Markets Inc. and Morgan Stanley & Co., Incorporated. Pursuant to the terms of the forward sale agreements, and subject to its right to elect cash settlement, Developers Diversified has agreed to sell, upon physical settlement of such forward sale agreements, an aggregate of 9,500,000 of its common shares to Citigroup Global Markets Inc. and Morgan Stanley & Co., Incorporated.