NH, Sol Melia Buy a Stake in Occidental
OCTOBER 18, 2006. NH Hoteles SA and Sol Melia SA are both in an 'advanced stage' of talks with risk capital firm Mercapital to acquire its 30 pct stake in Occidental Hoteles, Expansion reported, citing unnamed sources close to the deal.
The newspaper said that a third contender, tourist firm Grupo Barcelo 'has withdrawn' from the bidding ring.
Yesterday, Bolsacinco said Sol Melia had reached a preliminary agreement with Mercapital to acquire its Occidental Hoteles stake for just over 350 mln eur. It did not cite a source.
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