0000950123-11-039286.txt : 20110426 0000950123-11-039286.hdr.sgml : 20110426 20110426161620 ACCESSION NUMBER: 0000950123-11-039286 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20110426 DATE AS OF CHANGE: 20110426 GROUP MEMBERS: ALEXANDER OTTO GROUP MEMBERS: DR. MICHAEL OTTO GROUP MEMBERS: JANINA VATER GROUP MEMBERS: KATHARINA OTTO-BERNSTEIN FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Otto Alexander CENTRAL INDEX KEY: 0001462468 FILING VALUES: FORM TYPE: SC 13D/A MAIL ADDRESS: STREET 1: C/O KG CURA VERMOGENSVERWALTUNG G.M.B.H. STREET 2: WANDSBEKER STR. 3-7 CITY: HAMBURG STATE: 2M ZIP: 22179 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: DEVELOPERS DIVERSIFIED REALTY CORP CENTRAL INDEX KEY: 0000894315 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 341723097 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-43125 FILM NUMBER: 11780293 BUSINESS ADDRESS: STREET 1: 3300 ENTERPRISE PARKWAY CITY: BEACHWOOD STATE: OH ZIP: 44122 BUSINESS PHONE: 2167555500 MAIL ADDRESS: STREET 1: 3300 ENTERPRISE PARKWAY CITY: BEACHWOOD STATE: OH ZIP: 44122 SC 13D/A 1 c15993sc13dza.htm SCHEDULE 13D/A Schedule 13D/A

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. 6 )*

DEVELOPERS DIVERSIFIED REALTY CORPORATION
(Name of Issuer)
Common Stock, par value $0.10 per share
(Title of Class of Securities)
251591103
(CUSIP Number)
Dennis O. Garris
Alston & Bird LLP
950 F Street, N.W.
Washington, DC 20004-1404
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 26, 2011
(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 
 

 

                     
CUSIP No.
  
251591103 
      
 
      
 

 

           
1   NAMES OF REPORTING PERSONS

Alexander Otto
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   þ 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  WC, PF
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Germany
       
  7   SOLE VOTING POWER
     
NUMBER OF   39,674,485
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   39,674,485
       
WITH 10   SHARED DISPOSITIVE POWER
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  39,674,485
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  14.3%*
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN
* = Based on 276,592,862 shares reported to be outstanding as of April 8, 2011 by the Issuer in its definitive proxy statement on Schedule 14A filed on April 18, 2011

Page 2 of 8 Pages

 

                     
CUSIP No.
  
251591103 
      
 
      
 

 

           
1   NAMES OF REPORTING PERSONS

Katharina Otto-Bernstein
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   þ 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  WC, PF
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Germany
       
  7   SOLE VOTING POWER
     
NUMBER OF   15,755,505
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   15,755,505
       
WITH 10   SHARED DISPOSITIVE POWER
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  15,755,505
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  5.7%*
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN
* = Based on 276,592,862 shares reported to be outstanding as of April 8, 2011 by the Issuer in its definitive proxy statement on Schedule 14A filed on April 18, 2011.

Page 3 of 8 Pages

 

                     
CUSIP No.
  
251591103 
      
 
      
 

 

           
1   NAMES OF REPORTING PERSONS

Dr. Michael Otto
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   þ 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  WC, PF
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  þ
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Germany
       
  7   SOLE VOTING POWER
     
NUMBER OF   2,625,916
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   2,625,916*
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   2,625,916
       
WITH 10   SHARED DISPOSITIVE POWER
     
    2,625,916*
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  5,251,832*
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  1.9%**
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN
* = Includes Common Shares over which Dr. Michael Otto has power of attorney granted by Janina Vater.
** = Based on 276,592,862 shares reported to be outstanding as of April 8, 2011 by the Issuer in its definitive proxy statement on Schedule 14A filed on April 18, 2011.

Page 4 of 8 Pages

 

                     
CUSIP No.
  
251591103 
      
 
      
 

 

           
1   NAMES OF REPORTING PERSONS

Janina Vater
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   þ 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  WC, PF
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Germany
       
  7   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   2,625,916
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER
     
    2,625,916
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  2,625,916
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  0.9%*
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN
* = Based on 276,592,862 Shares reported to be outstanding as of April 8, 2011 by the Issuer in its definitive proxy statement on Schedule 14A filed on April 18, 2011.

Page 5 of 8 Pages

 

         
CUSIP No. 251591103   SCHEDULE 13D/A    
This Amendment No. 6 (“Amendment No. 6”) amends and supplements the statement on Schedule 13D initially filed on May 15, 2009 (the “Original Filing”), as amended by Amendment No. 1 (“Amendment No. 1”) filed on August 20, 2009, Amendment No. 2 (“Amendment No. 2”) filed on September 14, 2009, Amendment No. 3 (“Amendment No. 3”) filed on September 18, 2009, Amendment No. 4 (“Amendment No. 4”) filed on February 16, 2010 and Amendment No. 5 (“Amendment No. 5”) filed on March 21, 2011. Information reported in the Original Filing, as amended, remains in effect except to the extent that it is amended, restated or superseded by information contained in this Amendment No. 6. Capitalized terms used and not defined in this Amendment No. 6 have the meanings set forth in the Original Filing, as amended.
The Schedule 13D is amended to make the following changes to Items 2, 4, 5 and 7:
Item 2. Identity and Background
Item 2 is hereby amended by including the following:
The group formed by the Reporting Persons, Scott A. Wolstein and Iris S. Wolstein has been terminated. See Item 4.
Item 4. Purpose of Transaction.
Item 4 is hereby amended by including the following:
On April 26, 2011, the Reporting Persons entered into an agreement (the “Termination Agreement”) with Scott A. Wolstein and Iris S. Wolstein to terminate their respective rights and obligations under the Voting Agreement. As a result of entering into the Termination Agreement, Scott A. Wolstein and Iris S. Wolstein are no longer obligated to vote their Common Shares in favor of the Reporting Persons’ nominees to the Issuer’s Board of Directors at every annual meeting of the Issuer’s shareholders relating to the election of members of the Issuer’s Board of Directors.
Item 5. Interest in Securities of the Issuer.
Item 5(a) is hereby amended by including the following:
The Reporting Persons may be deemed to beneficially own, in the aggregate, 60,681,822 Common Shares, representing 21.9% of the Issuer’s outstanding Common Shares (based on 276,592,862 Common Shares reported to be outstanding as of April 8, 2011 by the Issuer in its definitive proxy statement on Schedule 14A filed on April 18, 2011).
The group made up of the Reporting Persons, Scott A. Wolstein and Iris S. Wolstein has been terminated. See Item 4.
Item 7. Material to Be Filed as Exhibits.
     
Exhibit 1  
Joint Filing Agreement, dated May 15, 2009, among Mr. Otto, Katharina Otto-Bernstein, Dr. Michael Otto and Janina Vater
   
 
Exhibit 2  
Termination Agreement, dated April 26, 2011, by and among the Reporting Persons, Scott A. Wolstein and Iris S. Wolstein

 

Page 6 of 8 Pages

 

         
CUSIP No. 251591103   SCHEDULE 13D/A    
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: April 26, 2011
             
    /s/ KG CURA Vermögensverwaltung G.m.b.H. & Co., by power of attorney    
         
 
            
 
  By:   Dr. Thomas Finne    
 
  For:   Alexander Otto    
 
            
    /s/ KG CURA Vermögensverwaltung G.m.b.H. & Co., by power of attorney    
         
 
            
 
  By:   Dr. Thomas Finne    
 
  For:   Katharina Otto-Bernstein    
 
            
    /s/ KG CURA Vermögensverwaltung G.m.b.H. & Co., by power of attorney    
         
 
            
 
  By:   Dr. Thomas Finne    
 
  For:   Dr. Michael Otto    
 
            
    /s/ KG CURA Vermögensverwaltung G.m.b.H. & Co., by power of attorney    
         
 
            
 
  By:   Dr. Thomas Finne    
 
  For:   Janina Vater    

 

Page 7 of 8 Pages

 

         
CUSIP No. 251591103   SCHEDULE 13D/A    
EXHIBIT INDEX
         
Exhibit No.   Exhibit Description
       
 
  1    
Joint Filing Agreement, dated May 15, 2009, among Mr. Otto, Katharina Otto-Bernstein, Dr. Michael Otto and Janina Vater
       
 
  2    
Termination Agreement, dated April 26, 2011, by and among the Reporting Persons, Scott A. Wolstein and Iris S. Wolstein

 

Page 8 of 8 Pages

EX-1.1 2 c15993exv1w1.htm EXHIBIT 1.1 Exhibit 1.1
Exhibit 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13D and any amendments to it with respect to the Common Shares, par value $0.10 per share, of Developers Diversified Realty Corporation and further agree that this Joint Filing Agreement be included as an Exhibit to those joint filings.
Dated: May 15, 2009
             
    /s/ KG CURA Vermögensverwaltung G.m.b.H. & Co., by power of attorney    
         
 
            
 
  By:   Dr. Thomas Finne    
 
  For:   Alexander Otto    
 
            
    /s/ KG CURA Vermögensverwaltung G.m.b.H. & Co., by power of attorney    
         
 
            
 
  By:   Dr. Thomas Finne    
 
  For:   Katharina Otto-Bernstein    
 
            
    /s/ KG CURA Vermögensverwaltung G.m.b.H. & Co., by power of attorney    
         
 
            
 
  By:   Dr. Thomas Finne    
 
  For:   Dr. Michael Otto    
 
            
    /s/ KG CURA Vermögensverwaltung G.m.b.H. & Co., by power of attorney    
         
 
            
 
  By:   Dr. Thomas Finne    
 
  For:   Janina Vater    

 

 

EX-2.1 3 c15993exv2w1.htm EXHIBIT 2.1 Exhibit 2.1
Exhibit 2
Termination Agreement
This Termination Agreement, effective as of April 26, 2011 (this “Termination Agreement”), is entered into by and among Mr. Alexander Otto (“Otto”), the undersigned assignees of Otto (collectively, the “Otto Investors” and together with Otto, the “Purchasers”) and the undersigned shareholders of Developers Diversified Realty Corporation (the “Company”) (in his or her individual capacity, each a “Shareholder” and collectively, the “Shareholders”).
WHEREAS, on February 23, 2009, Otto and the Company entered into a Stock Purchase Agreement (the “Stock Purchase Agreement”), which provides for the purchase and sale of up to 30,000,000 shares of Company Common Stock, and for a grant of warrants to purchase 10,000,000 shares of Company Common Stock;
WHEREAS, Otto assigned portions of his rights to purchase shares of Company Common Stock under the Stock Purchase Agreement to the Otto Investors;
WHEREAS, as an inducement to enter into the Stock Purchase Agreement, and as one of the conditions to the consummation of the transactions contemplated by the Stock Purchase Agreement, on May 11, 2009, Otto and the Company entered into an Investor Rights Agreement (the “Investor Rights Agreement”), which provides for Purchasers’ rights to nominate up to two individuals for representation on the Company’s Board of Directors;
WHEREAS, on May 11, 2009, Otto and the Shareholders entered into a Shareholder Voting Agreement (the “Agreement”), which provides that the Shareholders agree to vote their Common Shares in favor of the Purchasers’ nominees to the Company’s Board of Directors at every annual meeting of the Company’s shareholders relating to the election of members of the Company’s Board of Directors;
WHEREAS, the parties wish to terminate their rights and obligations under the Agreement.
NOW, THEREFORE, in consideration of the premises and the mutual covenants and provisions herein set forth, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, upon the terms and subject to the conditions contained herein, hereby agree as follows:
1. The Agreement is hereby terminated, effective as of the date hereof, and none of the parties thereto will have any rights or obligations thereunder. This Termination Agreement supercedes any other oral or written agreements between the parties regarding the subject matter hereof.
2. This Termination Agreement may be executed in any number of counterparts, each of which is deemed to be an original, but all of which together constitute one and the same instrument.
[Signature Page Follows]

 

 

 

IN WITNESS WHEREOF, the parties have executed or caused this Termination Agreement to be executed as of the day and year first above written.
             
    MR. ALEXANDER OTTO    
 
            
    /s/ KG CURA Vermögensverwaltung G.m.b.H. & Co., by power of attorney    
         
 
            
 
  By:   Dr. Thomas Finne and Henning Eggers    
 
  For:   Alexander Otto    
 
            
    OTTO INVESTORS    
 
            
    /s/ KG CURA Vermögensverwaltung G.m.b.H. & Co., by power of attorney    
         
 
            
 
  By:   Dr. Thomas Finne and Henning Eggers    
 
  For:   Katharina Otto-Bernstein    
 
            
    /s/ KG CURA Vermögensverwaltung G.m.b.H. & Co., by power of attorney    
         
 
            
 
  By:   Dr. Thomas Finne and Henning Eggers    
 
  For:   Dr. Michael Otto    
 
            
    /s/ KG CURA Vermögensverwaltung G.m.b.H. & Co., by power of attorney    
         
 
            
 
  By:   Dr. Thomas Finne and Henning Eggers    
 
  For:   Janina Vater    
 
            
    SHAREHOLDERS    
 
            
    /s/ Scott A. Wolstein    
         
    Scott A. Wolstein    
 
            
    /s/ Iris S. Wolstein    
         
    Iris S. Wolstein