Hotel boss clinches deal to buy Cameron House group De Vere

From: The Scotsman | Date: June 26, 2006| Author: | Copyright information

A LEADING property and hotel group boss has all but clinched control of hotel company De Vere, whose properties include the Cameron House Hotel on Loch Lomond.

Malmaison and Hotel du Vin chief executive Richard Balfour-Lynn, whose AHG Venice vehicle's main financial backer is Bank of Scotland, fought off a late higher offer from private equity firm Permira.

One of Permira's backers is believed to have been Royal Bank of Scotland, which also owns the UK Principal Hotels chain.

AHG's recommended offer values De Vere at 825p per share and GBP 723.5 million in total. The agreement came after ...

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