1.
Companies team for technologies
LONDON, March 14 (UPI) -- Top British hospitality company Whitbread PLC said it expected to raise nearly $2 billion from its sale of Marriott UK hotels, Sky News reported Monday.
The sale follows recommendations offered last October in a strategic review, and will allow the company to focus on its Premier Travel Inn budget hotels, David Lloyd health clubs and restaurant chains, Sky News said.
Whitbread is to create a joint venture with the U.S. division of the company, Marriott International, to hold the hotels until they are sold. Marriott International will receive an initial payment of $1.36 billion on the 50-50 venture.
Shareholders also will receive $765 million through a special dividend of $2.58 per share, Sky News said.
|
|
|
|
|
|
| Additional Business News Stories | |
WASHINGTON, May 23 (UPI) --
The planned Keystone XL oil pipeline would move oil away from refineries that produce gasoline, increasing prices, the National Resource Defense Council says.
|
WASHINGTON, May 22 (UPI) --
A U.S. Senate committee report has revived controversy over alleged counterfeit Chinese electronic components entering U.S.-made defense equipment and weapons.
|
The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
|
What if Europe turned out to be the new Japan?
|
| Stories | Photos | People | Comments |
View Caption
