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Marriott International Inc signs definitive agreements to acquire Protea Hospitality Holdings


Wednesday, 22 Jan 2014 06:30am EST 

Marriott International Inc and Protea Hospitality Holdings:Says that they have signed definitive agreements for the purchase by Marriott of Protea's three brands and management company.Says under terms of the agreements Marriott will pay approximately 2.02 billion rand, or approximately $186 million at current exchange rates, subject to normal closing adjustments.Says they plan to close the transaction on Apr. 1. 

Company Quote

56.1
0.68 +1.23%
15 Apr 2014