Fairmont Plan of Arrangement Receives Final Regulatory Approvals
TORONTO, Canada, May 4, 2006. Fairmont Hotels & Resorts Inc. (TSX/NYSE: FHR) announced that all regulatory approvals required to complete the acquisition of Fairmont's outstanding common shares by a company owned by affiliates of Kingdom Hotels International and Colony Capital have been obtained.
Currently, the expected date for the completion of the transaction is May 11th. Under the terms of the Arrangement, the Company's shareholders will receive US$45.00 in cash for each Fairmont common share.
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