May 3, 2018 / 10:49 AM / 3 months ago

BRIEF-Schroders To Buy Hotels Investment, Management Business Algonquin

May 3 (Reuters) - Schroders PLC:

* TO BUY PAN-EUROPEAN HOTELS INVESTMENT AND MANAGEMENT BUSINESS ALGONQUIN, WITH ASSETS OF 1.8 BILLION EUROS

* DEAL INCLUDES SCHRODERS ACQUIRING VARIOUS CO-INVESTMENTS ALONGSIDE ALGONQUIN’S EXISTING CLIENTS.

* FOUNDED IN 1998, ALGONQUIN CURRENTLY MANAGES ASSETS ACROSS EUROPE WITH MORE THAN 7,500 HOTEL ROOMS.

* ALGONQUIN’S HOTELS ARE PRIMARILY MANAGED THROUGH ITS OWN BRANDS OR FRANCHISES INCLUDING SHERATON, MARRIOTT, HYATT, RADISSON AND SOFITEL. Source text for Eikon: Further company coverage: (Reporting By Simon Jessop)

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