New holding company for DeBartolo

Edward J. DeBartolo Jr. has created a company to broaden the scope of his corporate investments.
DeBartolo Holdings will oversee investments in partnership interests, equity securities and loans to finance acquisitions, buyouts and other activities.
DeBartolo Holdings said it will focus on companies with a well-defined, predictable business model which are in need of capital or financial expertise or could benefit from using the DeBartolo name.
DeBartolo said the company was created because nearly all of the company's investments, including its ownership stake in Simon Property Group of Indianapolis and shopping centers, were allocated in the real estate industry.
DeBartolo is chairman of the new entity. Jerry DeNicholas, who was president of DeBartolo Property Group, becomes president and chief executive of DeBartolo Holdings.
DeBartolo Property Group, which oversees DeBartolo's real estate holdings, is changing its name to DeBartolo Development, which will be led by Ed Kobel. Both companies are based in Tampa, Fla.