Word: sales
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...morning of April 19, the private-equity firm Apollo Management acquired Realogy--the company behind real estate brokerages Coldwell Banker, Century 21 and ERA. It was not, by modern standards, a huge transaction: the sale price was $8.5 billion, nowhere near the $39 billion that private-equity titan Blackstone Group recently paid for Equity Offices Trust...
...very unremarkable sale," Markell said Tuesday...
...little gathering of tiny figures, each designed to hold toothpicks. "I only buy what I like to have in my home," says Ravestijn, of her house where everything?from the 18th century glass jars in the sumptuous bathroom to a sharkskin box holding fruit knives?is for sale. Ravestijn, a renowned antiques dealer for over 20 years, gave up her city shop when it became tiresome not being able to see the treasures she had collected. Now they are grouped like exquisite Dutch Old Master still lifes in this home where she and her partner, Narda van't Veer...
That was where things stood until April 5, when Tennessee attorney general Robert Cooper, whose office has the power to approve or disapprove charitable arrangements, rejected the arranged sale because of the difference between $7 million and what Fisk could get on the open market. Now lawyers for both sides plan to sit down in a judge's chambers to see if a new deal can be worked out. Eventually, Fisk fully expects to be taking something to market...
...sales are controversial, but they go on. In recent weeks Sotheby's has been bringing down the hammer on scores of works from the Albright-Knox Art Gallery in Buffalo, N.Y. The museum is shedding older pieces, like a Shang Dynasty bronze vessel that went for $8.1 million, to fatten its endowment for the purchase of contemporary art. In recent years its fund for that purpose has hovered at about $1 million annually--chump change in the current market. For Louis Grachos, director of the Albright-Knox, the sale simply allows the museum to focus on its chief purpose...