Spain: CNMC approves sale of HI Partners from Sabadell to Blackstone for $ 747 million

Spain’s National Commission of Markets and Competition (CNMC) has authorized the first phase for the sale of Banco Sabadell’s hotel subsidiary, HI Partners, to US investment fund Blackstone for €630.7 million (approximately US$ 747 million).

HI Partners VA’s portfolio includes six hotels in the Canary Islands, two in Andalusia, two in the Community of Valencia and two more in Catalonia, with one more each in the Community of Madrid and the Balearic Islands.

Sabadell’s decision to shed their hotel business comes in response to a moment of high demand from investors that will allow Sabadell to focus on developing its Strategic Plan 2018-2020, according to the entity’s announcement in October.

Full Content: El Periódico

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