Hotel owner and operator Park Plaza has acquired a 20% stake in hospitality firm WM/DMREF Bora B.V. (Bora) from a group of real estate investment funds managed by Goldman Sachs. The takeover sum comes to EUR 22mln. As part of the transaction, Park Plaza is also acquiring 20% of the debt provided to Bora by its shareholders. The acquisition is being made through Park Plaza's wholly-owned subsidiary, Euro Sea Hotels, and will be funded from Park Plaza's existing cash resources, the company said.
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