euro adhoc: Arcandor AG
Strategic management decisions
Ad hoc notification
in accordance with § 15 of the German Securities Trading Act
Arcandor AG: 49% stake in real estate joint venture Highstreet sold
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
19.03.2008
Essen/Germany, March 19, 2008. Arcandor AG, Essen, has sold its 49% stake in the property company Highstreet. The sales agreement was signed today. The buyer is a consortium consisting of RREEF (a Deutsche Bank subsidiary), Pirelli Real Estate, Generali Real Estate Fund S. A. and Borletti Group. The sale is subject to the approval of the anti-trust authorities. The total value of the transaction consisting of the above sale of the Highstreet stake and a separate contractual agreement with the previous joint venture partner Whitehall is approximately EUR 800 million.
The Management Board
end of announcement euro adhoc
Further inquiry note:
Detlef Neveling
Head of Investor Relations
Phone: +49 (0)201 727 -98 17
detlef.neveling@arcandor.com
Branche: Retail
ISIN: DE0006275001
WKN: 627500
Index: Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX,
Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / regulated dealing
Börse Hamburg / regulated dealing
Börse Stuttgart / regulated dealing
Börse Düsseldorf / regulated dealing
Börse Hannover / regulated dealing
Börse München / regulated dealing