Sonesta Announces Successful Closing of Merger
January 31 2012 - 4:22PM
Sonesta International Hotels Corporation
(Nasdaq:SNSTA) ("Sonesta") announced today that it has completed
its previously announced sale to Sonesta Acquisition Corp. ("SAC"
formerly known as Property Acquisition Corp.), an affiliate of
Hospitality Properties Trust (NYSE:HPT) for $31.00 in cash per
share of Class A common stock of Sonesta.
Simultaneously with the completion of the transaction, Sonesta
ceased to be a publicly owned company, and its stock stopped
trading on the NASDAQ at the close of the market today. SAC will be
changing its name to "Sonesta International Hotels
Corporation".
About Sonesta
Based in Boston, Sonesta International Hotels Corporation owns,
operates and franchises upscale and upper upscale hotels, resorts
and cruise ships in North America, South America, the Caribbean and
the Middle East. There are presently 33 "Sonesta"-flagged
properties in Boston, Miami, New Orleans, Chile (3), Colombia (4),
Ecuador, Peru (7), Sint Maarten (2), and Egypt (13).
The Sonesta International Hotels Corporation logo is available
at http://www.globenewswire.com/newsroom/prs/?pkgid=7017
CONTACT: Sonesta International Hotels Corporation
Boy van Riel, Vice President and Treasurer (617-421-5444)
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