Melia : Welcome disposals which significantly reduce the risk linked to debt Outperform, target price of € 8.0
>Finally, disposals of properties that significantly reduce debt - Melia has announced the sale of a 38.2% stake in three iconic hotels owned by the group (ME in London, Gran Meliá Palacio de Isora and Meliá Cala Galdana), which will continue to be managed on a leased basis. This € 300m deal will have a cash impact of around € 235m, to be booked from April onwards (but no capital gain as this is a minority stake sale). This is a significant transaction, since the amou...Melia Hotels International is the parent company of a group engaged in the acquisition, management and operation of hotels. Co. operates its hotel network in Germany, Argentina, Brazil, Bulgaria, Cabo Verde, Chile, China, Costa Rica, Croatia, Cuba, Egypt, Spain, United States, France, Greece, Netherlands, Indonesia, Italy, Luxembourg, Malaysia, Mexico, Panama, Peru, Portugal, Puerto Rico, United Kingdom, Dominican Republic, Singapore, Switzerland, Tunisia, Uruguay, Venezuela and Vietnam under the followings brandnames: Paradisus Resorts®, Melia Hotels & Resorts®, TRYP Hoteles® and Sol Hotels & Resorts®.
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