January 30, 2006
Fairmont Hotels & Resorts Inc. announces acquisition agreement whereby a Canadian company owned by Willkie client Colony Capital and by Kingdom Hotels International will acquire Fairmont in a deal potentially valued at $5.5 billion, including the intended combination with Raffles hotel portfolio currently owned by an affiliate of Colony.
On January 30, Fairmont Hotels & Resorts Inc. announced that it has entered into an acquisition agreement whereby a Canadian company owned by Willkie client Colony Capital and by Kingdom Hotels International will acquire Fairmont in a deal potentially valued at $5.5 billion, including the intended combination with Raffles hotel portfolio currently owned by an affiliate of Colony. The acquirers will pay $45 per share for all of Fairmont’s outstanding common shares. The intended combination of the Fairmont and Raffles portfolios following the completion of the transaction will create a luxury global hotel leader with 120 hotels in 24 countries. Colony Capital is a private, international investment firm focusing primarily on real estate-related assets and operating companies. At the completion of this transaction, Colony will have invested more than $20 billion in over 8,000 assets through various corporate, portfolio and complex property transactions. Willkie partner Thomas Cerabino and associate Adam Turteltaub represented Colony in this deal.
