The Blackstone Group and Colony Capital Make Offer for London's Famed Savoy Hotel and Four Other Legendary UK Properties.

Business Wire | April 8, 1998 | Copyright

NEW YORK--(BUSINESS WIRE)--April 8, 1998--The Directors of Blackstone Hotel Acquisitions Company ("BHAC"), Colony Capital, Inc., and the Board of Savoy Hotels plc (LSE: SVOY) announced in London yesterday that they had agreed on the terms of recommended cash offers to be made for the Savoy `A' and `B' shares on behalf of BHAC. BHAC is an investment company formed by Blackstone Real Estate Partners, a real estate investment fund formed by the privately held U.S. investment firm The Blackstone Group, and Colony Capital, Inc., a privately held investment firm.

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