Spanish hotels company Barcelo offers to buy NH Hotel Group
Madrid
NH Hotel Group confirmed on Monday that it has received a possible takeover offer from rival Spanish hotel group Grupo Barcelo in a deal that could create the biggest hotel group in Spain.
Grupo Barcelo, which has over 230 hotels in 21 countries, proposed having a 60 per cent stake in the shared group and a majority on the board in the unsolicited non-binding expression of interest, NH said in a statement to the Spanish stock exchange.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Homebuyers shun new real estate in Vancouver, hurting builders
US pending home sales jump in March to hit highest in the year
Blackstone strikes US$1.6 billion student housing deal with KKR
European real estate deals slump to lowest level in 13 years
Singapore Q1 industrial rents rise further as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co