Brief: Fonciere Des Regions to finance UK hotels takeover deal via capital increase

Covivio Hotels SCA

03/05/2018 07:52

May 3 (Reuters) - Fonciere Des Regions  FDR.PA :
    
    * To finance this transaction, Foncière des Murs, a
subsidiary of Foncière des Régions, has in particular planned an
increase of its share capital in the amount of c. €300 million,
to be subscribed by all its major shareholders 
    * Foncière des Régions, through its dedicated hotel
subsidiary Foncière des Murs, has signed an agreement to buy an
iconic portfolio of 14 four and five-star hotels from Starwood
Capital for £858M
    * Deal was earlier announced by Starwood  
    * Fonciere des Regions adds that deal marks its first entry
into the British market

 ((sudip.kargupta@thomsonreuters.com;))