Campeau exercised rights on 5 shopping malls.
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The Canadian real estate developer is buying half interests in five shopping centers being sold to Edward J. DeBartolo Corp., an Ohio developer. The centers were formerly owned by Allied Stores, which Campeau recently acquired. Campeau will pay $200 million for the interests. Under an agreement between Campeau and DeBartolo, the five centers were to be sold to DeBartolo for $400 million by March 31, with Campeau reserving the option to buy a 50% interest.
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