Market Chatter: Blackstone Planning to Sell Hotel Investment Partners Unit
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Blackstone is planning to sell its Hotel Investment Partners unit, valued at approximately 6.5 billion euros ($6.77 billion). The unit manages 73 hotels across Spain, Portugal, Italy, and Greece. The sale could occur through a direct sale of its 65% stake or an initial public offering this year. BX shares rose nearly 1% in recent trading. The information is based on reports from Spanish newspaper Cinco Dias and is subject to speculation.
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