BRIEF-Fonciere Des zones to finance Britain hotels takeover bargain via capital increase

as mentioned in May three (Reuters) - Fonciere Des Regions:* To finance this transaction, Foncière des Murs, a subsidiary of Foncière des Régions, has in particular planned an promote of its share capital in the amount of c. €300 million, to be subscribed with all its great shareholders* Foncière des Régions, out of its dedicated hotel subsidiary Foncière des Murs, has signed an licence to purchase an iconic portfolio of 14 4 & five-star hotels from Starwood Capital for £858M* bargain was earlier reported with Starwood* Fonciere des zones adds which bargain marks its premier entry into the English market


France's Fonciere des zones gets in Britain market in 858 mn pounds hotels takeover deal

PARIS (Reuters) – French property group Fonciere des zones made its premier foray into the English market on Thursday, in a bargain to purchase 14 upmarket hotels from Starwood Capital for 858 mn pounds ($1.2 billion). "This acquisition is an opportunity to duplicate the Growth strategy indeed rolled out in France, Germany & Spain, where Fonciere des zones is the preferred partner of active operators on these markets," said Fonciere des zones deputy chief executive Dominique Ozanne in a statement. "This transaction going to help Fonciere des zones cement its leading position on the hotel real estate investment market in Europe," added Ozanne. IHG added which the bargain by Fonciere des zones would too let it to promote its presence in the upmarket portion of the Britain hotels sector. Fonciere des zones added which its Fonciere des Murs subsidiary would launch a share capital promote worth around 300 mn euros to help finance the takeover.

France's Fonciere des Regions enters UK market in 858 million pounds hotels takeover deal

France's Fonciere des zones gets in Britain market in $1.2 bln hotels takeover deal

As it stated in The transaction going to too see InterContinental Hotels Group sign long-term leases for 13 of those 14 hotels, by IHG subsequently rebranding & running those hotels, that are ranked as four-star & five-star venues. "This acquisition is an opportunity to duplicate the Growth strategy indeed rolled out in France, Germany & Spain, where Fonciere des zones is the preferred partner of active operators on these markets," said Fonciere des zones deputy chief executive Dominique Ozanne in a statement. "This transaction going to help Fonciere des zones cement its leading position on the hotel real estate investment market in Europe," added Ozanne. IHG added that the bargain by Fonciere des zones would too let it to promote its presence in the upmarket portion of the Britain hotels sector. Fonciere des zones added that its Fonciere des Murs subsidiary would launch a share capital promote worth around 300 mn euros to help finance the takeover.






collected by :Frank Ithan

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