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Examples
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The property investors, referred to as the Highstreet consortium, are in negotiations with Arcandor, which posted a €745.7 million ($1.04 billion) loss in its 2008 fiscal year ended Sept. 30 and faces a deadline of June 12 to gain an extension on €650 million of debt.
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Mr. Berggruen had previously accused Deutsche Bank, a member of the Highstreet consortium, of "playing with fire," for its last-minute meddling in the negotiations process.
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The German press, which calls him a dandy because of his impecabbly tailored suits and three-day stubble, has questioned the likelihood of the deal closing given that he is still in negotiations with Highstreet to lower Karstadt rents.
Karstadt's New Owner 2010
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Berggruen, Highstreet and other creditors reached a final agreement Friday as they faced a deadline set by the insolvency administrator, who otherwise planned to start closing Karstadt's operations.
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The Highstreet consortium has an interest in helping Arcandor avoid insolvency, a person familiar with the matter said.
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Highstreet (0 articles, 0 quicklinks, 2 diaries, 26 comments [1 recommended, 0 rejected]) on Friday, Jan 25, 2008 at 8: 58: 54 PM
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Highstreet (0 articles, 0 quicklinks, 2 diaries, 26 comments [1 recommended, 0 rejected]) on Sunday, Jan 27, 2008 at 3: 25: 37 AM
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Thanks Mark ..... but many are not paying attention ... by Highstreet on Wednesday, Feb 6, 2008 at 3: 51: 43 AM
OpEdNews - Quicklink: U.S. Troops Asked If They Would Shoot American Citizens 2008
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Don't bash Paul without doing your research by Highstreet on Friday, Jan 25, 2008 at 8: 54: 29 PM
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Consider voting for the candidate Kucinich most agrees with by Highstreet on Sunday, Jan 27, 2008 at 3: 30: 40 AM
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