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Article: The Lightstone Group Completes $625.5 Million Acquisition of Prime Retail, Inc.
- Article from:
- PR Newswire
- Article date:
- December 11, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. 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)
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The Lightstone Group, LLC ("The Lightstone Group"), and Prime Retail, Inc. ("Prime Retail") (BULLETIN BOARD: PMRE, PMREP, PMREO) announced today that they have completed the sale of Prime Retail to an affiliate of The Lightstone Group (the "Lightstone Affiliate") for approximately $625.5 million, including aggregate consideration of $115.5 million payable to stockholders and unit holders and The Lightstone Group's assumption of approximately $510 million of debt. The transaction continues The Lightstone Group's aggressive national acquisition strategy.
The sale was accomplished by merging the Prime Retail into Prime Outlets Acquisition Company, LLC, a Delaware ...
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