CDL Hospitality Trusts acquires 95% stake in Italy hotel for 40.6m euros
Initial funding will be via internal resources or offshore debt, or a mix of both
Singapore
CDL Hospitality Trusts (CDLHT) is acquiring a 95 per cent stake in Hotel Cerretani Florence, MGallery by Sofitel for 40.6 million euros (S$63.6 million), its managers announced on Friday.
The purchase consideration works out to 33 million euros, after taking into account a 3.1 million euro payment for its interest in the estimated net working capital…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US seeks 36 months’ jail for Binance founder Zhao
China’s Huawei launches new software brand for intelligent driving
Capital A chief Fernandes defers retirement, renews contract for five years
China’s SenseTime soars 36% after unveiling beefier AI model
PBOC steps up rhetoric against long-end government bond rally
Texas Instruments gives solid forecast in sign of comeback