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Cerberus reportedly seeking financing for Supervalu deal
New York -- Multiple reports on Monday suggested that private equity firm Cerberus Capital Management, which owns the struggling Albertsons LLC, may be putting together a deal to buy all or part of the grocery chain.
Cerberus is said to be seeking $4 billion to $5 billion in debt financing from banks to back a bid and is looking at investing $800 to $900 in equity in its takeover quest, a person familiar with the matter is reported to have said. That same source cautioned that the figures could change.
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Taubman Prestige Outlets Chesterfield names GM
Bloomfield Hills, Mich. -- Taubman Centers announced it has hired Colleen O’Neill as the general manager of Taubman Prestige Outlets Chesterfield, effective Nov. 5. She will be responsible for overseeing center operations as well as retailer and community relations, marketing and sponsorship.
O’Neill was the former marketing director of Saks Fifth Avenue at Plaza Frontenac in St. Louis. The announcement of her hiring follows Taubman’s decision to move up the opening date of the high-end outlet shopping center to August 2, 2013.