Wyndham Worldwide Corp (WYN.N)
18 Jan 2018
Thu, Jan 18 2018
Wyndham Worldwide Corp will buy La Quinta Holdings Inc's hotel operations for $1.95 billion, it said on Thursday, adding another well-known U.S. brand and nearly 900 mid-scale, upper mid-scale and economy locations to its portfolio. | Video
* Wyndham shares rise 5.2 pct; La Quinta up 2.6 pct (Adds analyst comment, updates share movement)
BRIEF-Wyndham Worldwide Says La Quinta To Pay Termination Fee Of $37 Mln, If Deal Ended Under Some Conditions
* WYNDHAM WORLDWIDE SAYS IF LA QUINTA DEAL TERMINATED UNDER SOME CONDITIONS, LA QUINTA TO PAY CO A TERMINATION FEE OF $37 MILLION - SEC FILING Source text (http://bit.ly/2Bcaa7t) Further company coverage:
* EXPECTING $55 MILLION - $70 MILLION OF SYNERGIES FROM LA QUINTA DEAL, ALMOST ENTIRELY COST SAVINGS
* WYNDHAM WORLDWIDE AND LA QUINTA HOLDINGS ANNOUNCE ACQUISITION AGREEMENT
Jan 18 Wyndham Worldwide Corp said on Thursday it would acquire La Quinta Holdings Inc's hotel franchise and management businesses for $1.95 billion in cash.
LONDON, Jan 16 Banks are preparing debt packages of up to US$825m to back a potential sale of the European rental assets of American hospitality company Wyndham Worldwide , banking sources said.
* Airbnb is among possible suitors for Wyndham Worldwide's Europe rentals - Bloomberg, citing sources Source: https://bloom.bg/2h1rjJd Further company coverage:
BRIEF-Wyndham Worldwide's unit enters into timeshare loan-backed variable funding note purchase facility
* Wyndham Worldwide Corp - On October 5, 2017, unit of co entered into a timeshare loan-backed variable funding note purchase facility, Series 2017-A
* Wyndham Worldwide announces spin-off hotel company executive leadership team Source text for Eikon: Further company coverage: