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Mall owners Brookfield and Simon to pull JCPenney out of bankruptcy

J.C. Penney Company, Inc. has announced that it has reached an agreement in principle to sell JCPenney through a court-supervised sale process to Brookfield and Simon for 1.75 billion dollars, which includes a combination of cash and new term loan debt. “We have determined that an agreement with Brookfield and Simon, as well as the formation of...