Cerberus Capital Management, L.P. and Orion Capital Managers, L.P. completed the acquisition of remaining 3% stake in Sotogrande, S.A..
May 25, 2015 at 05:00 am
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Cerberus Capital Management, L.P. and Orion Capital Managers, L.P. made a mandatory tender offer to acquire remaining 3% stake in Sotogrande, S.A. (CATS:STG) for 6 million in cash on November 14, 2014. Cerberus Capital and Orion Capital offered to acquire remaining 1.3 million shares of Sotogrande for 4.43 per share. As of May 21, 2015, 0.86 million shares have been tendered. Alejandro Ortiz, Fernando Ramos de Lucas, Javier García Cueto, Lucía Alonso of Linklaters LLP acted as the legal advisor and Ernst & Young acted as the independent expert for Cerberus Capital Management and Orion Capital Managers.
Cerberus Capital Management, L.P. and Orion Capital Managers, L.P. completed the acquisition of remaining 3% stake in Sotogrande, S.A. (CATS:STG) on May 25, 2015.
Sotogrande SA is a Spain-based company engaged in the real estate business sector. The Company administrates, promotes and sales properties in San Roque. Its main activities are divided into three areas: Real Estate, Golf and Hotels. It manages the development of residential properties, moorings, garages, offices, as well as restaurants, hotels and golf fields. In addition, Sotogrande SA is a parent company of Grupo Sotogrande. The Group controls a number of companies, such as Club Deportivo Sotogrande SA, Resco Sotogrande SL, Donnafugata Resort Srl, Residencial Marlin SL, Los Alcornoques de Sotogrande SL, Santa Barbara Golf SA and Capredo Investment GmbH. Furthermore, the Company is a subsidiary of NH Hoteles SA, a worldwide chain of hotels.