|
|
Article: New Jersey-Based Real Estate Firm to Buy Outlet Mall-Owner Prime Retail.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- July 9, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
By Lorraine Mirabella, The Baltimore Sun Knight Ridder/Tribune Business News
Jul. 9--A New Jersey-based real estate company has agreed to buy financially troubled Prime Retail Inc., the Baltimore-based outlet mall owner, for $638 million, the two companies said yesterday.
The buyer, Lightstone Group LLC, would assume $523 million of Prime Retail's debt and pay shareholders $115 million. While holders of common stock would get 18 cents per share, a premium of 42 percent over the average closing price in June, holders of preferred stock would get $16.25 per share of Series A stock and $8.66 cents per share of Series B stock, premiums of 66 percent ...
Related newspaper, magazine, and journal articles:
|
|
Article: PRIME RETAIL ATTRACTS 28 MILLION SHOPPERS TO ITS ...
PR Newswire;
January 4, 1996 ;
700+ words
... ... BALTIMORE, Jan. 4 /PRNewswire/ -- Prime Retail, Inc. (Nasdaq: PRME, PRMEP ... the third consecutive year that Prime Retail has developed nearly one million ... said Rosenthal. "Shoppers at Prime Retail outlet centers tell us they like ...
|
|