normal_post - Blackstone buys Hilton for $26 billion - World Daily News Author Topic: Blackstone buys Hilton for $26 billion  (Read 620 times)


  • GURU
  • *****
  • avatar_1_1507939928 - Blackstone buys Hilton for $26 billion - World Daily News
  • Posts: 18912
  • medal1 - Blackstone buys Hilton for $26 billion - World Daily Newsmedal2 - Blackstone buys Hilton for $26 billion - World Daily News
  • Need A Website? Email me:
    • Share Post
xx - Blackstone buys Hilton for $26 billion - World Daily News
Blackstone buys Hilton for $26 billion
« on: July 04, 2007, 07:22:43 AM »
source: BBC NEWS

US private equity group Blackstone is buying the global Hilton Hotels chain for $26bn (£13bn) in an all-cash deal.

Under the deal, Blackstone is paying $47.50 for each Hilton Hotels Corporation share, a 32% premium over their closing price on Tuesday.

Blackstone said the deal had been approved by Hilton's board, and was due to be completed by the end of 2007.

The surprise announcement comes two weeks after Blackstone raised $4.13bn through floating a 13.2% stake.

Numerous hotel brands

Blackstone said it intends to grow the Hilton business.

The private equity firm already has a number of hotel investments, including La Quinta Inns and Luxury Resorts and Hotels.

US-based Hilton's other brands include Conrad Hotels, and the Waldorf-Astoria Collection.

Blackstone's co-founders, Stephen Schwarzman, 60, and Peter Peterson, 81, earned more than $2.4bn between them from last month's share sale.

The global network of Hilton hotels were reunited as one company in 2006 after a 42-year split.

The reunion happened after Hilton Hotels Corporation (HHC) paid $3.3bn to buy the 400 international Hilton hotels owned by UK-based Hilton Group.

The division took place in 1964, when HHC sold off all its overseas hotels to concentrate on the US market.

Romans 10:9
"That if you shall confess with your mouth the Lord Jesus, and shall believe in your heart that God has raised him from the dead, you shall be saved."

Get FREE 500GB cloud storage:

Share via facebook Share via linkedin Share via pinterest Share via tumblr Share via twitter

Sauid buys 72 Eurofighter jets worth 4.43 billion pounds

Started by Ligalig-Mike on World Daily News

1 Replies
Last post September 18, 2007, 01:23:56 AM
by Lorenzo

Latest Topics

'Mysterious power over humanity': How cats affect health by islander
[Today at 02:34:50 PM]

The Bond Movies by balong
[Today at 01:56:45 AM]

BALONG Basketball League by balong
[Today at 01:49:47 AM]

Cats and Dogs Petting Chart by islander
[Yesterday at 07:32:39 PM]

Ang Resulta...bow! by islander
[Yesterday at 06:45:32 PM]

The Sarmenta-Gomez Murder and the Mayor by islander
[Yesterday at 04:28:22 PM]

Retirement Advice for Botoy by islander
[August 22, 2019, 03:42:13 AM]

Yogabitay by hubag bohol
[August 21, 2019, 11:57:53 PM]

Pauraray by hubag bohol
[August 21, 2019, 11:56:05 PM]

Big Pussy! by hubag bohol
[August 21, 2019, 11:41:53 PM]

SMF spam blocked by CleanTalk
Powered by SMFPacks SEO Pro Mod | Sitemap
Mobile View
SimplePortal 2.3.7 © 2008-2019, SimplePortal