Spanish hotel group Hispania could be acquired by Blackstone for €1.9bn
According to Bloomberg, Alzette Investment, a Blackstone investment subsidiary, may be set to acquire Spanish hotels company Hispania in a deal worth €1.9bn.
Soros-backed Hispania is reportedly looking at a number of options regarding a potential sale, such as bids from Tristan Capital Partners, and it has also been speculated that Blackstone is looking to acquire the entirety of the hotels group.
Alzette has reportedly agreed to buy 16.65% of Hispania from Soros-backed funds of QP Capital Holdings and QPB Holdings in a deal worth €17.54 per share, totaling €315.4mn.
However, it will now look to wholly acquire Hispania, a company that has two third of its operations in the hospitality industry, for in a deal totaling €1.9bn that would see Blackstone paying this same price per share.
The offer follows a number of Spanish investments from Blackstone, including its acquisition of HI Partners in October 2017 and its purchase of a 51% stake in Banco Popular’s €30bn real estate portfolio.