RVI - Retail Value to sell shopping mall in Mississippi for $38.5M plans to delist stock

Retail Value (NYSE:RVI) said the general due diligence period expired under a deal to sell Crossroads Center in Gulfport, Mississippi to a third-party purchaser for $38.5M in cash. Closing is subject to customary conditions, including receipt of tenant estoppels and consent of the ground lessor to the assignment of the ground lease applicable to the shopping center, and is expected to occur by the end of Apr. In connection with the effectiveness of the Crossroads Center's buyer's obligations, RVI intends to notify the NYSE its intention to voluntarily delist its shares. RVI expects that the delisting of its stock will occur prior to the start of trading on Apr. 7. The company has not arranged for listing and/or registration of its stock on another national securities exchange. RVI stock fell 3% postmarket following the announcement.

For further details see:

Retail Value to sell shopping mall in Mississippi for $38.5M, plans to delist stock