IHG not among bidders for Fairmont Raffles; could return up to GBP 1.5bn to shareholders next year
It is believed that InterContinental Hotels Group (IHG) is not a potential buyer for the Canadian hotel chain Fairmont Raffles Hotels International, The Times reported. IHG, an FTSE-250 hotels operator, has apparently declined to participate in an auction of Fairmont Raffles, the newspaper said, without citing a source for the information.
Fairmont Raffles, which has been put up for sale by owners including the government of Qatar, could sell for GBP 2bn (EUR 2.71bn), the item estimated. Deutsche Bank is advising on the auction, the report said.
IHG declined to comment, the newspaper said.
Separately, the article said IHG seems likely to return up to GBP 1.5bn to shareholders early next year.
IHG yesterday, 20 October published its 3Q15 results.
IHG has indicated that it will make a decision on how to deploy the proceeds from the sales of its primary owned assets in February when the company releases its FY15 results, according to the report.
The Times