Innkeepers, Cerberus Reach Tentative $1 Billion Sale Pact
From Reuters
Innkeepers, Cerberus Reach Tentative $1 Billion Sale Pact
Cerberus Capital Management and Chatham Lodging Trust have reached a tentative agreement to buy bankrupt Innkeepers USA Trust at a lower price than in an earlier deal that fell apart, a source close to the talks said.
Cerberus and Chatham would acquire 64 of the bankrupt hotel operator's properties for about $1 billion in a transaction that could become official as soon as Thursday, according to the person, who spoke anonymously because talks are private. Click here for the full story.
Want to use this article? Click here for options!
© 2012 Penton Media Inc.
Acceptable Use Policy blog comments powered by Disqus
Most Recent
Career Center
| Enter Keyword(s):
Enter a City: Select a State: Select a Category:  |
|
