Atrium European unit eyes cash tender offer for 6.8% notes due 2011

By Marisa Wong

Madison, Wis., April 1 - Atrium European Real Estate Ltd. said its board of directors has proposed that wholly owned subsidiary Manhattan Development sro launch a cash tender offer for any and all of the €35 million of outstanding 6.8% guaranteed notes due 2011.

The purchase price is tentatively set at 101 plus accrued interest.

Atrium is a Jersey, Channel Islands, company that owns, operates and develops shopping centers in Central and Eastern Europe.

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