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Hilton confirms private equity interest in Ladbrokes
Hilton Group has confirmed that it has received expressions of interest in its Ladbrokes betting shop chain.
Media speculation has suggested interested parties could include private equity groups CVC Capital Partners, BC Partners and Blackstone Group. The division could be worth between £3-4bn.
Hilton however has said that it remains focused on its negotiations with Hilton Hotel Corporation regarding the sale of its Hilton International hotels division.
The deal, expected to be completed within weeks, could net Hilton Group up to £3.2bn.
The company recently sold 15 of its UK properties to The Managed Hotels Unit Trust for £382.4m in a 30-year sale and leaseback deal, and last March sold 11 UK hotels to US group Starwood Capital for £111m.
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