• Dec 22, 2003

    Tanger Factory Outlets and Blackstone Real Estate Advisors Close on Acquisition of Charter Oak Partners Factory Outlet Portfolio for $491 Million

    Tanger Finances the Majority of Its Share of Equity Through the Issuance of Common Shares Transaction is Expected to be Accretive in First Year/Balance Sheet Remains Solid Strategic Acquisition Solidifies Tanger’s Position in Factory Outlet Sector GREENSBORO, N.C., Dec. 22 /PRNewswire-FirstCall/ – Tanger Factory Outlet Centers, Inc. (NYSE: SKT), a leading owner, developer and manager of factory outlet centers, announced today the closing of the acquisition of the Charter Oak Partners’ portfolio of nine factory outlet centers totaling approximately 3.3 million square feet. Tanger and an affiliate of Blackstone Real Estate Advisors acquired the portfolio through a joint venture in the form of a limited liability company. Tanger owns one-third and Blackstone owns two-thirds of the joint venture. Tanger is providing operating, management, leasing and marketing services to the properties for a fee.
  • Dec 17, 2003

    GE Real Estate Creates Strategic Capital Group

    Provides $160mm in Preferred Equity for Retail Portfolio Acquisition STAMFORD, CT, December 17, 2003 – GE Real Estate (GERE), a leading global resource for commercial real estate capital, today announced that its North America Debt business has created the Strategic Capital Group (SCG) to provide structured loan financing to new and existing institutional customers. The group will be based in New York, NY. Skip Wells, has been named SCG managing director.
  • Dec 17, 2003

    Blackstone Acquires The Marriott Hotel in Munich

    London/Munich, December 17, 2003 – Blackstone Real Estate Advisors today announced the purchase of the Marriott Hotel in Munich from a private Japanese investor. The 348-room, first-class hotel is located in Schwabing, to the north of Munich and in close proximity to head-quarters offices of numerous German and multinational companies. The Hotel is also close to the new multi-function stadium currently under construction, and on the way to the Munich Airport. The hotel will continue to be managed by Marriott International. Financial details of the transaction were not disclosed.
  • Dec 16, 2003

    Blackstone Announces Intention to Launch Friendly Takeover Offer for Celanese AG

    December 16, 2003 – BCP Crystal Acquisition GmbH & Co. KG, a German limited partnership controlled by a group of funds advised by The Blackstone Group, New York, today announced its decision to make a voluntary takeover offer (the “Offer”) for all of the outstanding shares of Celanese AG, Kronberg i.T. (WKN 575300). BCP Crystal Acquisition GmbH & Co. KG intends to offer a price per share of EUR 32.50. This is above the all-time-high closing price and represents a premium of 46% over the average daily volume-weighted price per share of Celanese in 2003, and a premium of 13% over the three-month volume-weighted average daily closing share price of EUR 28.66.
  • Dec 04, 2003

    Oxbow Carbon and Minerals Completes Acquisition of AIMCOR

    WEST PALM BEACH, FL – December 4th, 2003 – Oxbow Carbon and Minerals LLC (“OCM”) announced today that it has completed its acquisition of Applied Industrial Materials Corporation (“AIMCOR”) for $127.8 million.
  • Dec 03, 2003

    Aspen Insurance Holdings Limited Initial Public Offering Priced At $22.50 Per Share

    Hamilton, Bermuda, December 3, 2003 – Aspen Insurance Holdings Limited (“Aspen”) today announced that the initial public offering of 10,524,000 of its ordinary shares was priced at $22.50 per share. The underwriters also have an option to purchase up to an additional 1,578,600 shares to cover over-allotments. All of the proceeds of the offering, after deducting the underwriting discounts and commissions and the offering expenses, will go to Aspen. The shares are expected to begin trading on the New York Stock Exchange on December 4, 2003 under the symbol “AHL”.
  • Dec 03, 2003

    American Axle & Manufacturing Announces Secondary Offering

    Detroit, Michigan, December 3, 2003 – American Axle & Manufacturing Holdings, Inc. (AAM), which is traded as AXL on the NYSE, announced that yesterday, after the markets closed, Blackstone Capital Partners II Merchant Banking Fund L.P. and its affiliates (Blackstone) agreed to sell 6,510,992 shares of common stock to Credit Suisse First Boston. AAM expects the shares to be resold in an underwritten public offering at a price to be determined by Credit Suisse First Boston. Blackstone is expected to complete the sale and deliver the shares to the underwriter on December 8, 2003, thus completing Blackstone’s planned orderly exit strategy of its investment in AAM.
  • Nov 24, 2003

    Blackstone to Acquire $1.2 Billion Real Estate Portfolio from Deutsche Bank

    November 24, 2003 – Blackstone Real Estate Partners, LP, an affiliate of The Blackstone Group, today announce the signing of a definitive agreement to acquire a portfolio of 51 office buildings, in nine countries, from Deutsche Bank AG for a total consideration of $1.2 billion (Euro 1.04 billion).
  • Nov 13, 2003

    Host Marriott Corporation Announces the Closing on the Acquisition of The Hyatt Regency Maui Resort

    BETHESDA, MD, November 13, 2003 – Host Marriott Corporation (NYSE:HMT) today announced the closing on the acquisition of the 806-room Hyatt Regency Maui Resort and Spa under an agreement previously announced by Host Marriott Corporation on October 14, 2003. The purchase price was $321 million or $398,000 per room. The seller is an affiliate of Blackstone Real Estate Advisors.
  • Oct 22, 2003

    Claridges’ Owners Review Sale Potential

    Blackstone, in conjunction with Colony Capital, has appointed Deutsche Bank and Jones Lang LaSalle as advisers to review the marketplace with a view to the potential sale of Claridge’s by the Savoy Group.
  • Oct 20, 2003

    CN to Acquire Railroad and Related Holdings of Great Lakes Transportation LLC for US$380 Million

    MONTREAL, Oct. 20, 2003 – CN announced today it has reached agree-ment to acquire the railroad and related holdings of Great Lakes Transpor-tation LLC (GLT) for US$380 million (approximately C$500 million) in a transaction that will improve CN’s NAFTA rail link between Western Can-ada and Chicago and expand its role in the transportation of bulk com-modities for the U.S. steel industry.
  • Oct 20, 2003

    CN to Acquire Great Lakes Transportation LLC

    MONROEVILLE, Pennsylvania, October 20, 2003 – Great Lakes Transportation LLC (GLT) announced today that an agreement has been reached to sell its railroad and related holdings to Montreal-based Canadian National Railway Company (CN) for $380 million.
  • Oct 14, 2003

    Host Marriott to Acquire the Hyatt Regency Maui Resort and Spa for $321 Million

    Bethesda, MD; October 14, 2003 – Host Marriott Corporation (NYSE: HMT) today announced that it has signed an agreement to acquire the 806-room Hyatt Regency Maui Resort and Spa located on 37 acres of fee simple oceanfront property on Kaanapali Beach. The hotel includes 25,000 square feet of indoor meeting and banquet space and over 100,000 square feet of outdoor function space, including Napili Garden, two spacious pool decks, gardens and lawns. The hotel’s recently expanded Spa Moana, the only oceanfront full-service spa in Hawaii, has 9,000 square feet of spa facilities, including 11 treatment rooms, a beauty salon, a relaxation lounge and sauna and steam rooms.
  • Oct 14, 2003

    Freedom Communications, Blackstone Communications Partners and Providence Equity Partners Sign Definitive Capitalization Agreement

    IRVINE, Calif., October 14, 2003 – Freedom Communications, Inc. today announced it has signed a definitive agreement with Blackstone Communications Partners and Providence Equity Partners to form a new partnership to recapitalize Freedom. This transaction marks the culmination of a thorough review of options for providing liquidity to certain family shareholders while at the same time allowing others to maintain their ownership in the business. Under the terms of the definitive agreement, Blackstone and Providence will make a significant investment in the firm and enable continued control by descendents of founder R. C. Hoiles, whose heritage and libertarian editorial philosophy will be preserved.
  • Oct 14, 2003

    Freedom, Blackstone and Providence Sign Recapitalization Agreement

    New Partnership to Keep Freedom in Family Hands and Satisfy Desire by Shareholders for Liquidity IRVINE, Calif., October 14, 2003 – Freedom Communications, Inc. today announced it has signed a definitive agreement with Blackstone Communications Partners and Providence Equity Partners to form a new partnership to recapitalize Freedom. This transaction marks the culmination of a thorough review of options for providing liquidity to certain family shareholders while at the same time allowing others to maintain their ownership in the business. Under the terms of the definitive agreement, Blackstone and Providence will make a significant investment in the firm and enable continued control by descendents of founder R. C. Hoiles, whose heritage and libertarian editorial philosophy will be preserved.
  • Oct 07, 2003

    William H. Joyce Named Chairman and Ceo of Nalco

    Naperville, IL, October 7, 2003 – William H. Joyce, PhD., was today named as Chairman and Chief Executive Officer of Nalco Company (“Nalco”), the leading worldwide water treatment and process chemicals and services company, by the Investor Group that is acquiring the company. The appointment will take effect on completion of the transaction.
  • Oct 06, 2003

    Blackstone Acquires 3.3 Million Sq. Ft. Factory Outlet Portfolio

    Transaction is Expected to be Accretive in First Year/Balance Sheet Remains Solid Strategic Acquisition Consolidates Tanger’s Position in Factory Outlet Sector GREENSBORO, NC, October 6, 2003 – Tanger Factory Outlet Centers, Inc. (NYSE: SKT), a leading owner, developer and manager of factory outlet centers, announced today the execution of a definitive agreement for the acquisition of the Charter Oak Partners’ portfolio of nine factory outlet centers totaling approximately 3.3 million square feet. Tanger and an affiliate of Blackstone Real Estate Advisors have formed a limited liability company to acquire the portfolio as a joint venture. Tanger will own one-third and Blackstone will own two-thirds of the joint venture. Tanger will provide operating, management, leasing and marketing services for the properties.
  • Oct 06, 2003

    S&N Retail Pub Estate Acquired by Spirit Group

    Consortium Comprising Spirit Group Announces Acquisition of S&N Retail Pub Estate Monday, 6 October, 2003 – Spirit Amber, a NewCo comprising the assets and management of the existing Spirit Group and a consortium led by Texas Pacific Group, Blackstone, CVC Capital Partners and Merrill Lynch Global Private Equity, has today acquired the Scottish & Newcastle managed pubs, restaurants and lodges business (S&N Retail) for a total consideration of £2.51bn.
  • Sep 29, 2003

    Blackstone Acquires Marriott Grosvenor Square

    London, September 29, 2003 – The Blackstone Group today announced that an affiliate of Blackstone Real Estate Advisors has purchased the Marriott Grosvenor Square Hotel from a private Japanese investor. The 221-room luxury hotel is located in the heart of London’s West End, in a close proximity to the US Embassy and to London’s most prominent shopping and business addresses. Terms of the transaction were not disclosed.
  • Sep 25, 2003

    Blackstone CDO Funds Reach $1 Billion

    New York: September 25, 2003 – The Blackstone Group announced today the closing of its second Collateralized Debt Obligation investment vehicle bringing the total CDOs under management to $1 billion. The Group’s first vehicle, Hanover Square CLO Ltd., closed in November 2002 at $600 million.