ROANOKE TIMES 

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: MONDAY, January 3, 1994                   TAG: 9401030093
SECTION: NATIONAL/INTERNATIONAL                    PAGE: A-4   EDITION: METRO 
SOURCE: 
DATELINE: CINCINNATI                                LENGTH: Short

FEDERATED BUYS PART OF CLAIM AGAINST MACY

Bloomingdale's parent company bought part of a claim against R.H. Macy & Co. Inc. with an eye toward eventually combining the two into the nation's biggest department store operation.

Federated Department Stores Inc. said Sunday it closed a $449.3 million deal with Prudential Insurance Co. of America to buy half of the insurer's 15 percent claim on Macy's debt in the retailer's Chapter 11 bankruptcy reorganization.

The insurance company had been Macy's largest single creditor. Federated negotiated the deal without Macy's knowledge and only told Macy's about it the day it was announced publicly, said Carol Sanger, a spokeswoman for Cincinnati-based Federated.

- Associated Press 


 by CNB