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Duke Street snags Galaxie hotels.
Byline: Lisa Clifford in London
London buyout firm Duke Street Capital moved further into the French market on Thursday, July 10, with the announcement that it has bought Groupe Galaxie, a budget hotel company. Duke Street refused to say how much it had paid for France's third-largest low-cost hotel chain, which operates 108 properties under the B&B brand, but a source close to the company said the price was near [Euro]200 million ($227 million).
The Bank of Scotland, a unit of British bank HBOS plc, provided debt financing.
Company founder and chief executive Francois Branellec will leave Brest-based Galaxie, Duke Street said, to be replaced by …
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