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PACE - Pace Holdings News Story

$10.38 0.0  0.1%

Last Trade - 10/03/17

Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 6846

BRIEF-Playa Hotels & Resorts, Pace Holdings announce business combination

Tue 13th December, 2016 12:04pm
Dec 13 (Reuters) - Pace Holdings Corp  PACEU.O  
    * Playa Hotels & Resorts B.V. - consideration payable to 
Playa shareholders will consist of co common shares and warrants 
to purchase co common shares 
    * Playa Hotels & Resorts - Playa's management team, led by 
chairman and CEO Bruce Wardinski, will continue to run company 
    * Playa Hotels & Resorts - transaction has been unanimously 
approved by boards of directors of both Pace Holdings and Playa 
Hotels And Resorts 
    * Playa Hotels & Resorts and Pace Holdings Corp announce 
business combination 
    * Playa Hotels & Resorts  - combined co  will retain Playa 
name and will be a publicly listed company with an anticipated 
initial enterprise value of about $1.75 billion 
    * Playa Hotels & Resorts-in order to facilitate transaction, 
Pace's sponsor has agreed to cancellation of 3.75 million 
founder shares and 7.33 million founder warrants 
    * Playa Hotels & Resorts-Playa shareholders,Pace's sponsor 
be issued earnout warrants that will be exercisable for co 
shares upon achievement of certain stock price thresholds 
Source text for Eikon:  ID:nBw47Sstba  
Further company coverage:  PACEU.O  
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