Spanish hotel group Hispania could be acquired by Blackstone for €1.9bn

By Jason Harris

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.

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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.

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