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BRIEFLY

September 25, 1987

Victoria Station said it has agreed with its major creditor groups to sell most of the company's assets to Victoria Station Acquisition Corp., a firm formed by an outside investor group. Terms call for the acquiring company to pay about $6.5 million for distribution to the company's secured creditors. It also would issue preferred stock having a liquidation preference of $1 million for distribution to unsecured creditors. Unsecured creditors and stockholders would also receive 10% of the common stock of the acquiring company.

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