Bloomberg News

Morgan Stanley’s Multi Gets $1.2 Billion Loan Package, New CEO

September 13, 2011

Sept. 13 (Bloomberg) -- Multi Corp. BV, the European mall developer that’s 85 percent owned by a Morgan Stanley fund, named a new chief executive officer as it announced a new 850 million-euro ($1.16 billion) financing package.

A group of 11 banks led by NIBC Bank NV agreed to extend Multi’s loans and borrowing facilities by four years, according to a statement released today by the Gouda, Netherlands-based developer.

The deal will help finance Multi’s 14 existing mall- development projects across Europe as well as new investments under the team to be led by Heino Vink, Multi’s former head of Benelux and France.

Vink, 37, takes over as chief executive from Glenn Aaronson, who is leaving to pursue his own projects and to become non-executive chairman of Forum Turkey Fund, for which Multi plans an initial public offering within the next four years.

--Editors: Jeff St.Onge

To contact the reporter on this story: Simon Packard in London at packard@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net


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