A series of recent reports on the sale of Sotogrande by NH Hotels has shares trading at a €4,10.
According to Spain’s El Confidencial newspaper, the investment fund has offered 220 million Euros for the acquisition of Sotogrande.
The article also states that the upscale development in southern Spain was valued at 177.5 million Euros by the consultancy American Appraisal, which is in line with its market capitalization of 175 million euros, or €3,90 per share.
Another report by Reuters on the other hand states that NH Hoteles is merely in “exclusive talks on Sotogrande sale”.
The sale of the exclusive development that includes world class golf courses, luxury homes, a polo field, a yachting marina among other assets, has been food for much speculation in recent months.
(UPDATE) – NH Hoteles has denied rumors that a sale or agreement on price has taken place on the sale of Sotogrande, S.A.
The company spokesperson however confirmed that a process of “information and negotiation” is taking place, noting that it has “respected the exclusivity terms of a third party” in order to “analyze details” provided to them on the company.