Oct 24 (Reuters) - Hudson's Bay Co HBC.TO :
* HBC and WeWork enter into global, multi-faceted strategic relationship
* Hudson's Bay Co - WeWork property advisors to acquire Lord & Taylor Fifth Avenue building in a transaction valued at U.S.$850 million
* Hudson's Bay Co - Rhône Capital to make u.s.$500 million equity investment in HBC
* Hudson's Bay Co - HBC to reduce outstanding debt and/or increase cash by approximately c$1.6 billion and increase total liquidity by c$1.1 billion
* Hudson's Bay Co - HBC currently anticipates minimal impact on its earnings from sale of Lord & Taylor Fifth Avenue building
* Hudson's Bay Co - strategic alliance is expected to produce future real estate deals and monetizations, consistent with hbc's strategic objectives
* Hudson's Bay Co - companies intend to implement a reciprocal benefits program to enhance their respective product offerings
* Hudson's Bay Co - lord & Taylor Fifth Avenue flagship store is expected to continue operations in entire building throughout 2018 holiday season
* Hudson's Bay - to use proceeds from private placement & sale of lord & taylor fifth avenue building to reduce indebtedness under asset-based revolving facility
* Hudson's Bay - an investment vehicle affiliated with rhône, subscribed for 50.92 million hbc's series a convertible preferred shares at $9.82 per share
* Hudson's Bay Co - in connection with private placement, hbc has concurrently entered into an investor rights agreement with Rhône
* Hudson's Bay-upon closing of private placement, co intends to appoint M. Steven langman, eric gross additional directors to board of directors of HBC
* Hudson's Bay Co - WeWork property advisors, a joint venture between wework and rhône, expects to assume part of $500 million equity investment