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Hotels, Motels & Cruise Lines

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Shanghai Jin Jiang International Hotels Development to buy 80 pct stake in a hotel

Friday, 29 Apr 2016

Shanghai Jin Jiang International Hotels Development Co Ltd:To buy 80 pct stake in a hotel from Huang Deman, for 1,748.8 mln yuan.To buy 80 pct stake in a Shenzhen-based restaurant chain company from Huang Deman, for 800,000 yuan.

Marriott international and Starwood Hotels & Resorts Worldwide sign amended merger agreement

Monday, 21 Mar 2016

Marriott international and Starwood Hotels & Resorts:Revised terms value Starwood at $79.53 per share or $13.6 billion.Total per share value of $85.36 with separate ILG transaction consideration.Says Starwood shareholders will own approximately 34 percent of combined company's common stock after merger.Marriott expects transaction to be roughly neutral to adjusted earnings per share in 2017 and 2018.Says one-time transaction costs for merger are expected to total approximately $100 million to $130 million.Break-Up fee payable by Starwood in certain circumstances increased to $450 million from $400 million.Parties continue to expect transaction to close in mid-2016.Targeted annual G&A synergies increased to $250 million run-rate.Transition costs are also expected to be incurred over next two years.Under terms of amended merger agreement, starwood shareholders to receive $21 in cash and 0.80 shares of co's class a common stock for each starwood share.Where termination fee is payable , Starwood required to reimburse co for up to $18 million of actual costs incurred by co.Marriott international and Starwood Hotels & Resorts Worldwide sign amended merger agreement.

Marriott international and Starwood Hotels & Resorts Worldwide sign amended merger agreement

Monday, 21 Mar 2016

Marriott international and Starwood Hotels & Resorts:Revised terms value Starwood at $79.53 per share or $13.6 billion.Total per share value of $85.36 with separate ILG transaction consideration.Says Starwood shareholders will own approximately 34 percent of combined company's common stock after merger.Marriott expects transaction to be roughly neutral to adjusted earnings per share in 2017 and 2018.Says one-time transaction costs for merger are expected to total approximately $100 million to $130 million.Break-Up fee payable by Starwood in certain circumstances increased to $450 million from $400 million.Parties continue to expect transaction to close in mid-2016.Targeted annual G&A synergies increased to $250 million run-rate.Transition costs are also expected to be incurred over next two years.Under terms of amended merger agreement, starwood shareholders to receive $21 in cash and 0.80 shares of co's class a common stock for each starwood share.Where termination fee is payable , Starwood required to reimburse co for up to $18 million of actual costs incurred by co.Marriott international and Starwood Hotels & Resorts Worldwide sign amended merger agreement.

Scandic Hotels Group to take over hotel in Aalborg

Thursday, 17 Mar 2016

Scandic Hotels Group AB:Is continuing to expand its Nordic hotel network by taking over operation of centrally located First Hotel Europa Aalborg from June 1, 2016.In conjunction with takeover, hotel will change name to Scandic Aalborg City.

Starwood Hotels & Resorts Worldwide Inc announces receipt of unsolicited acquisition proposal

Monday, 14 Mar 2016

Starwood Hotels & Resorts Worldwide Inc:Says received a non-binding proposal from a consortium of companies to acquire all of the outstanding shares of common stock of Starwood for $76.00 per share in cash.Says Starwood's board of directors has not changed its recommendation in support of starwood's merger with Marriott.Board in consultation with its advisors, will carefully consider the outcome of its discussions with the Consortium.Stockholders would also get consideration in form of ILG stock from spin-off of vacation ownership business.Consortium has not completed diligence and there are a number of matters to be resolved in consortium's proposal.

Shanghai Jin Jiang International Hotels Development completes acquisition of 81.0034 pct stake in Keystone Lodging Holdings Limited

Saturday, 27 Feb 2016

Shanghai Jin Jiang International Hotels Development Co Ltd:Completes the acquisition of 81.0034 pct stake in Cayman Island-based company Keystone Lodging Holdings Limited.

OUE entered into an agreement for the acquisition of units in OUE Commercial REIT

Tuesday, 23 Feb 2016

OUE Ltd:Entered into a sale and purchase agreement for the acquisition of units in OUE Commercial Real Estate Investment Trust.The purchase consideration is s$166 million and will be satisfied wholly in cash.

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