Blackstone and Starwood Capital Group Complete Acquisition of Extended Stay America (STAY)
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Blackstone and Starwood Capital Group Complete Acquisition of Extended Stay America
June 16, 2021 9:56 AM EDTCHARLOTTE, N.C., June 16, 2021 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. (ESA) and its paired-share REIT, ESH Hospitality, Inc. (ESH and, together with ESA, Extended Stay or the Company) (NASDAQ: STAY) today announced the completion of their previously announced acquisition by funds managed by Blackstone Real Estate Partners (Blackstone) and Starwood Capital Group for $20.50 per paired share in cash in a transaction valued at approximately $6 billion.
As required under the terms of the Companys definitive merger agreement, the Board of Directors of ESA, on June 15, 2021, declared a special cash dividend of $1.75 per share of... More
