MarketWatch.com - MarketPulse
LOS ANGELES (MarketWatch) -- Berkshire Hathaway and Marmon Holdings announced Tuesday that Berkshire will purchase 60% of Marmon Holdings, a private company owned by trusts benefiting members of the Pritzker Family of Chicago. Berkshire will put up $4.5 bln for the stake and will acquire the remaining 40% through staged acquisitions over a five to six year period, to be based on future earnings. Marmon will make a substantial distribution of cash and assets to shareholders prior to the expected closing in the first quarter of 2008. The Marmon Group is an international association of more than 125 manufacturing and service businesses.
Shanghai Daily: Business - shanghaidaily.com
DELEK Real Estate Ltd, the Israeli company that backed out of a US$2.9-billion deal with Jelmoli AG, has agreed to buy 12 Frankfurt-area supermarkets from Metro AG, Germany's biggest retailer, for 243 million euros (US$349 million), Bloomberg News reported on Sunday. Delek, through its Delek Global Real Estate unit, will acquire the buildings from the Real supermarket chain, a subsidiary of Metro, the Netanya, Israel-based company said in an e-mailed statement to the stock exchange. Real will rent 10 of the supermarkets from Delek through 2022, and the other two through 2020, beginning at 16 million euros annually for all the properties. The rent will increase 6.7 percent every five years. "DGRE has again purchased a property with a quality tenant for a long period in a central area, and proved that even in these times it can use its connections to close deals and get good financing," Chief Executive Officer Ilik Rozanski said in the statement. Delek Real Estate, a