Kerzner Hands Atlantis Bahamas to Brookfield in Debt Deal
From Bloomberg Businessweek:
Kerzner Hands Atlantis Bahamas to Brookfield in Debt Deal
Kerzner International Holdings Ltd., the company that built Atlantis resorts in the Bahamas and Dubai, handed ownership of its flagship property to Brookfield Asset Management as part of a debt restructuring. Brookfield will forgive $175 million of junior debt for ownership of the Bahamas-based Atlantis and the Bahamas One&Only Ocean Club, as well as a half interest in the One&Only Palmilla in Mexico, according to a statement obtained by Bloomberg News. Click here for the full story.
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