Highstreet Consortium Repaid Debt Ahead of Time

               Highstreet Consortium Repaid Debt Ahead of Time

  PR Newswire

  AMSTERDAM, February 24, 2014

AMSTERDAM, February 24, 2014 /PRNewswire/ --

In January, the Highstreet consortium, which includes Whitehall, Deutsche
Asset & Wealth Management, Prelios, Generali and the Italian Borletti Group,
repaid its entire senior and second lien debt ahead of time. The repayment was
realized through rent and sales of several department stores with a sales
volume of approx. 2.3 bn EURO, there from alone 1.3 bn EURO in 2013. The
assets sold include the KaDeWe department store and other department stores on
Kurfürstendamm and Hermannplatz, all in Berlin, as well as others in Hamburg,
Munich, Cologne and Erfurt, and several smaller department stores all over
Germany. Further disposals are expected to take place in 2014.

Press Contact Richard Speich CNC - Communications & Network Consulting T
+49-89-599-458-121 Richard.Speich@cnc-communications.com
 
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