The winning group includes the investment bank Goldman, Sachs & Co. and the billionaire families of Giovanni Agnelli, chairman of Italy's Fiat Auto Co., and Stavros Niarchos, a Greek shipping mogul. It also includes New York real estate magnate Jerry Speyer.
The group's winning offer totaled $1.135 billion, including $306 million in cash - or $8 per share - assumption of outstanding debts and $45 million in short-term financing for the real estate trust that owns the mortgage on Rockefeller Center. The trust, Rockefeller Center Properties Inc., chose the group's bid yesterday afternoon, possibly ending the battle that has been waged since the owners entered bankruptcy proceedings in May.
"I am pleased that the board of Rockefeller Center Properties has decided to recommend our proposal to its shareholders," said Rockefeller, who gets a 5 percent stake if the bid is approved. "My overriding interest on behalf of my family always has been to preserve the quality and integrity of this landmark property."