June 10 (Reuters) - Hudson's Bay Co HBC.TO :
* PRESS RELEASE - HBC AGREES TO SELL REMAINING EUROPEAN REAL ESTATE AND DIVEST RELATED RETAIL JOINT VENTURE FOR $1.5 BILLION
* HBC AGREES TO SELL REMAINING EUROPEAN REAL ESTATE AND DIVEST RELATED RETAIL JOINT VENTURE FOR $1.5 BILLION
* HUDSON'S BAY CO - UPON CLOSE, HBC WILL COMPLETELY EXIT ITS GERMAN OPERATIONS.
* HUDSON'S BAY - A PORTION OF TRANSACTION'S NET PROCEEDS WILL BE USED TO FORTIFY HBC'S BALANCE SHEET BY FULLY REPAYING OUTSTANDING $436 MILLION TERM LOAN.
* HUDSON'S BAY CO - EXPECTS TO UNDERTAKE COST SAVINGS INITIATIVES INCLUDING, AMONG OTHERS, CERTAIN STORE CLOSURES.
* HUDSON'S BAY - WILL ASSUME OWNERSHIP OF NETHERLANDS RETAIL BUSINESS, AND RELEASE SIGNA FROM ITS 50.01% BACK-TO-BACK GUARANTEE OF CERTAIN OBLIGATIONS
* HUDSON'S BAY CO - SIGNA WILL ASSUME GERMAN LIABILITIES FROM HBC
* HUDSON'S BAY CO - HAS RETAINED A FINANCIAL ADVISOR TO REVIEW OPTIONS FOR NETHERLANDS BUSINESS, WHICH HAS NOT PERFORMED TO EXPECTATIONS
* HUDSON'S BAY CO - AT SIGNING, SIGNA DELIVERED A DEPOSIT OF $150 MILLION