Takeover bid launched for Thistle Hotels
Thistle Hotels is at the centre of a £550m takeover bid after Malaysian property tycoon Quek Leng Chan – owner of the Guoco Group – launched a cash offer for BIL International, the Singapore-based company that owns the chain.
The offer is being made by High Glory Investments, a wholly-owned subsidiary of Guoco – which already owns 44 per cent of BIL.
Thistle Hotels operates 49 hotels in the UK, with 20 in London including flagship properties The Royal Horseguards, Thistle Victoria and Thistle Marble Arch. The group sold six hotels in April for a total of £185m. Details: www.bilgroup.com
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