euro adhoc: Arcandor AG
other
Ad hoc notification in accordance with § 15 of
the German Securities Trading Act
Arcandor AG: Sale of real estate joint venture completed
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
28.07.2008
Essen/Germany, July 28, 2008. Arcandor AG, Essen, today has transferred its 49 percent stake in the property company Highstreet to the already known consortium consisting of RREEF Alternative Investments (a Deutsche Bank subsidiary), Pirelli Real Estate, Generali Real Estate Fund S. A. and Borletti Group. Despite a difficult market environment, this large real estate transaction has been successfully completed. The total value of the transaction consisting of the above mentioned sale of the Highstreet stake and a separate contractual agreement with the previous joint venture partner Whitehall amounts unchanged to about EUR 800 million.
The Management Board
end of announcement euro adhoc
Further inquiry note:
Detlef Neveling
Telefon: +49 (0) 201 727-9816
E-Mail: 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