Blackstone looks to acquire Spanish hotel group Hispania, lines up $2.3bn offer

According to Bloomberg, Blackstone’s investment subsidiary Alzette Investment is looking to acquire the entirety of Spanish hotels company Hispania in a deal that would be worth $2.3bn.

Hispania, back by George Soros, has reportedly been considering a number of options in regard to the sale of its assets. These have included bids from Tristan Capital Partners, and allegedly, a 100% acquisition bid from Blackstone’s Alzette Investment.

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Currently, Alzette has reportedly agreed to pay €17.54 (USD$21.53) per share for a 16.65% stake in Hispania from the Soros owned QP Capital Holdings and QPB Holdings funds that would total $387.21mn.

However, Bloomberg has revealed that it will now look to build on this offer and attempt to wholly acquire Hispania in a deal that would total over $2.3bn, should they continue to pay the same price per share.

This latest offer continues Blackstone’s trend of investing heavily into the Spanish market of late, having both acquire HI Partner and bought a majority stake in Banco Popular’s real estate portfolio late last year.