Prime/Mansur Reaffirms Contract to Purchase Prime Group Realty Trust (NYSE: PGE)
15 Noviembre 2004 - 3:02PM
PR Newswire (US)
Prime/Mansur Reaffirms Contract to Purchase Prime Group Realty
Trust (NYSE: PGE) CHICAGO, Nov. 15 /PRNewswire/ -- E. Barry Mansur,
Chairman of Mansur Interests, Ltd. and controlling shareholder of
Prime/Mansur Investment Partners, LLC, issued a statement today on
behalf of Prime/Mansur Investment Partners which entered into a
definitive Merger Agreement dated October 27, 2004 with Prime Group
Realty Trust. (Photo:
http://www.newscom.com/cgi-bin/prnh/20041115/CGM068 ) Mansur stated
that his entity has complied in every material respect with the
terms and conditions of the existing jointly executed Merger
Agreement, including obtaining a binding financing commitment from
its lenders to provide any and all required financing for Mansur to
move forward and complete its acquisition of Prime Group Realty
Trust. Mansur, when asked to describe Prime Group Realty Trust's
recent public statement to the contrary, stated that, "we believe
that PGRT is attempting to renegotiate a substantive provision
regarding the structure of the Merger to which it had previously
agreed." Mansur recently formed Prime/Mansur Investment Partners,
LLC, which includes Michael W. Reschke, the original founder of
Prime Group, as a partner. According to Mansur, "negotiations are
ongoing between our organization and Prime Group attempting to
overcome our differences and complete the planned merger. We are
optimistic that our discussions with management will lead to a
resolution of our dispute and a closing of the Prime acquisition in
the near future. However, if these negotiations are not successful,
we will pursue all legal remedies available to us, including the
enforcement of the Merger Agreement which we deem to be valid and
in full force and effect."
http://www.newscom.com/cgi-bin/prnh/20041115/CGM068 DATASOURCE:
Mansur Interests, Ltd. CONTACT: Media, Tara Dunne Stocker,
+1-312-377-7405, or Britta Carlmark, +1-312-263-2400, both for
Mansur Interests, Ltd.
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