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GRAND HOTEL GROUP ASSET REALISATION PROPOSAL APPROVED.
Publication: AsiaPulse News Publication Date: 28-NOV-06 |
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COPYRIGHT 2006 Asia Pulse Pty Ltd
SYDNEY, Nov 28 Asia Pulse - Securityholders of Hyatt and Country Comfort hotel owner Grand Hotel Group Ltd (GHG) (ASX:GHG) have approved a proposal that potentially allows the takeover target to sell off part or all its $A508 million ($US394.89 million) hotel portfolio.
The asset realisation proposal was recommended by GHG's independent directors and put to securityholders at the company's annual general meeting today.
Chairman Bill Conn said the resolution was being presented against a background of highly favourable hotel sector conditions, a strong...
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