Deal snapshot: BELMOND ACQUIRES TUSCAN RESORT CASTELLO DI CASOLE IN ITALY FOR EUR 2.85M.
Bermuda-based luxury travel company Belmond Ltd. (NYSE: BEL) has acquired Tuscany, Italy-based resort and estate Castello di Casole, the company said. The company purchased from the current owner the entire equity capital of two entities that together own Castello di Casole, one of the largest private real estate properties in Tuscany.
Belmond said the purchase price, including transaction costs, is approximately EUR 39m (USD 48m) with a possible further EUR 2.85m (USD3.5 m) payable contingent upon certain real estate sales being realized. The property is the latest addition to Belmond's family of 'Italian Icons', which includes Belmond Hotel Cipriani in Venice and Belmond Hotel Splendido in Portofino.
Target: Castello di Casole
Buyer: Belmond Ltd
Deal size in USD: 48m
Type: Corporate Acquisition
Buyer advisor: , ,
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|Publication:||M & A Navigator|
|Date:||Feb 9, 2018|
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