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Former Hostess gets $6.8 million winning bid for Jamaica, N.Y., assets
By Caroline Salls
Pittsburgh, July 23 - Old HB, Inc., formerly Hostess Brands, Inc., named Amerco Real Estate Co. as the high bidder for debtor Interstate Brands Corp.'s Jamaica, N.Y., assets, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.
Amerco will pay $6.8 million for the assets.
As previously reported, 168 Douglas Realty LLC was the stalking horse bidder, with a $6.2 million offer.
Under the court-approved bid procedures, 168 Douglas will receive a $60,000 break-up fee since it was not the high bidder for the assets.
The sale hearing is scheduled for July 30.
Hostess Brands, an Irving, Texas-based operator of regional bakeries, filed for bankruptcy on Jan. 11, 2012. Its Chapter 11 case number is 12-22052.
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