B&B sale close to completion - New payment in Germany

Paris. Goldman Sachs Group Inc. is close to a deal to buy the B&B Hotels chain from PAI Partners for about 2 billion euros, people familiar with the matter said, reported "Bloomberg" on Friday. Meanwhile more media have been picking up the news but the deal ist not yet finalized. Representatives for PAI and Goldman Sachs declined to comment to Bloomberg.

Goldman Sachs is doing the deal through its merchant banking division, which includes private equity deals, agency sources said. Accepting the deal would give PAI a return of three times its initial investment, sources added.

PAI bought the French hotelier in 2016 in a deal that valued B&B at about 790 million euros, expanding the firm into new markets. The chain was founded in 1990 and has more than 479 hotels in markets including Europe, Brazil and Morocco, according to its website. / map

Berlin. This year budget was again on everyone's lips at the IHIF Berlin, also since the Rezidor prizeotel deal was quite a surprise. As an aftermath, we asked Marco Nussbaum a couple of questions. Furthermore, the new COO of B&B, Fabrice Collet, and General Manager Germany Mark Thompson, explained the new pathway with the new owner PAI: tempo is the focus – and a luxury-ambition-driven budget group such as Motel One is history as a competitor! Two days prior to the IHIF the first German Super 8 in Munich opened softly; Wyndham CEO Geoff Ballotti and his team explained in Berlin, why their new budget brand should also be successful in Germany.

Paris. The Carlyle Group and Montefiore Investment, owners of B&B Hotels announced on Tuesday that they have entered into exclusive negotiations with the European private equity firm PAI Partners, for the acquisition by PAI of B&B Hotels alongside B&B's management team.