AMSTERDAM, February 24, 2014 /PRNewswire/ --
In January, the Highstreet consortium, which includes Whitehall, Deutsche Asset & Wealth Management, Prelios, Generali and the Italian Borletti Group, repaid its entire senior and second lien debt ahead of time. The repayment was realized through rent and sales of several department stores with a sales volume of approx. 2.3 bn EURO, there from alone 1.3 bn EURO in 2013. The assets sold include the KaDeWe department store and other department stores on Kurfürstendamm and Hermannplatz, all in Berlin, as well as others in Hamburg, Munich, Cologne and Erfurt, and several smaller department stores all over Germany. Further disposals are expected to take place in 2014.
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