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Goldman Sachs in talks to buy B&B Hotels from PAI Partners

2019-05-20 17:52    Investing

Goldman Sachs in talks to buy B&B Hotels from PAI Partners Stock News

© Reuters. The Goldman Sachs company logo is seen in the company's space on the floor of the NYSE in New York

PARIS (Reuters) - Goldman Sachs (NYSE:GS) is in talks to buy B&B Hotels from private equity firm PAI Partners, the companies said on Monday, in a deal which an earlier report from the Financial Times said could be worth 1.9 billion euros ($2.1 billion).

Goldman Sachs Merchant Banking Division, the bank's investment fund arm, and PAI Partners did not disclose how much the transaction could be worth in their statement.

B&B Hotels had 2018 sales volumes worth 580 million euros, and it runs a network of 476 hotels, competing with the likes of Accor (PA:ACCP).

The global hotels industry has recently shown signs of solid growth, with Marriott issuing a relatively upbeat outlook earlier this month while Accor also expressed confidence over its 2019 outlook in April.

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