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Debt Financing / Related, Mergers / Acquisitions

Blackstone And Starwood Capital Group To Acquire Extended Stay America

Published: 03/15/2021 12:52 GMT
(STAY) - Blackstone and Starwood Capital Group to Acquire Extended Stay America.
Extended Stay America Inc - Deal for $19.50 per Paired Share in an All-cash Transaction Valued at Approximately $6 Billion.
Extended Stay America Inc - Deal Unanimously Approved by Esa's Board.
Extended Stay America Inc - Affiliate of Starwood Capital, Which Owns About 9.4% of Co's Outstanding Paired Shares, Entered Into Support Agreement.
Extended Stay America - Signed a Definitive Agreement to Be Acquired by a 50/50 Jv Between Funds Managed by Blackstone and Starwood Capital Group.
Extended Stay America - Does Not Expect to Pay Regular Quarterly Distribution Pending Deal Except $0.09 Distribution on March 26, 2021.
Extended Stay America Inc - Transaction is Not Contingent on Receipt of Financing.