TVC Holdings PLC said it has led a consortium of investors to buy 11 Comfort Inn and Quality Hotels in Ireland for 41.5 mln eur from Kasterlee Ltd to strengthen this hotel business in Ireland and the UK.
The investment holding company said the deal represents a total investment of 46.5 mln eur, including 3 mln eur of development capital.
The acquisition will be funded with a combination of equity from TVC Holdings, Pat McCann and Davy Private Clients and a loan from the Ulster Bank, it added. TVC said it has invested 10 mln eur for a 29 pct stake in the hotels. Read more