Barcela could enter west in the hands of minority shareholders
Already announced HOSTELTUR news tourism in ’Western hotels, handicapped by the disagreements between BBVA and Ortega’ who were the minority shareholders who were looking for a shareholder who wanted to enter the chain. And it seems that they have already found it and is none other than BarcelÃ³ Hotels & Resorts, which had already participated in the process led by Morgan Stanley and BBVA to be with her (BarcelÃ³, more closely than do with Occidental Hotels & Resorts).
After suspend Occidental Hotels & Resorts your sales process last December, members agreed that one was not which leads the process but that freely each shareholder find option of selling their shares that most interested him, as they have confirmed this between sources of the sector in the Caribbean.
BarcelÃ³ could thus have signed a purchase agreement with minority shareholders, specifically with Gregorio de Diego, former Chairman of the chain; Amancio Ortega, in front of Pontegadea, and Miarnau family). This time seems that the chain is not going in the hands of any fund, but alone, according to the same sources, by what still is not clear how resolved the issue financial and if only that minority percentage that has negotiated to buy or will also include in the operation the majority in the hands of the BBVA.
In fact, agreement with minority shareholders is probably subject to that Barcelo close a sale with BBVA commitment by a majority of the capital, because it would be Miss chain to enter to become a minority without having management control.
Is that if the Bank accepted the offer of Barcelo, and the chain had resolved the financing could meet with Occidental Hotels & Resorts Management. It is curious that the company runs out of participating in a (Hispania y BarcelÃ³ constituyen una SOCIMI hotelera vacacional que invertirÃ¡ 421 millones de euros), which has divested in 11 facilities, purchase of five others by Hispania; and once again embark on the purchase of assets by more than 500 million.
Is given the circumstance that in the last financial year Occidental hotels returned to benefits for the first time since 2005.