Oct 28 (Reuters) - J C Penney Company Inc JCPNQ.PK :
* JCPENNEY SIGNS ASSET PURCHASE AGREEMENT WITH BROOKFIELD, SIMON AND FIRST LIEN LENDERS, CHARTING COURSE FOR THE FUTURE
* EXPECTS TO OPERATE OUTSIDE CHAPTER 11 IN ADVANCE OF 2020 HOLIDAY SEASON
* J C PENNEY-TERMS OF APA ARE BROOKFIELD, SIMON TO ACQUIRE SUBSTANTIALLY ALL OF COS RETAIL, OPERATING ASSETS VIA COMBINATION OF CASH, NEW TERM LOAN DEBT
* TERMS INCLUDE FORMATION OF SEPARATE PROPERTY HOLDING COMPANIES
* J C PENNEY - APA TERMS INCLUDE OPCO AND PROPCOS WILL ENTER INTO MASTER LEASES WITH RESPECT TO PROPERTIES AND DISTRIBUTION CENTERS MOVED INTO PROPCOS