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Deal snapshot: BELMOND ACQUIRES TUSCAN RESORT CASTELLO DI CASOLE IN ITALY FOR EUR 2.85M.

MANews-(C)2009-2018

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.

Country: Italy

Sector: Hotels/Restaurants/Casinos/Catering

Target: Castello di Casole

Buyer: Belmond Ltd

Vendor:

Deal size in USD: 48m

Type: Corporate Acquisition

Financing: Cash

Status: Closed

Buyer advisor: , ,

Comment:

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Publication:M & A Navigator
Date:Feb 9, 2018
Words:142
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