The Blackstone Group Completes Acquisition of Boca Resorts, Inc.
BOCA RATON, Fla., Dec. 10 /PRNewswire-FirstCall/ -- Boca Resorts, Inc. (NYSE:RST) announced today that it has completed its merger with an affiliate
of The Blackstone Group. Under the terms of the merger agreement, the
Company's stockholders will be entitled to receive $24.00 per share in cash,
without interest.
About Boca Resorts, Inc.
Boca Resorts, Inc. is the owner and operator of five distinctive destination
resorts located in Florida with hotels, conference facilities, golf courses,
spas, marinas and private clubs. The Company's resorts include the Boca Raton
Resort & Club (Boca Raton), the Registry Resort at Pelican Bay (Naples), the
Edgewater Beach Hotel (Naples), the Hyatt Regency Pier 66 Hotel and Marina
(Fort Lauderdale) and the Radisson Bahia Mar Resort and Yachting Center (Fort
Lauderdale). The Company also owns and operates two golf clubs located in
Florida (Grande Oaks Golf Club in Fort Lauderdale and Naples Grande Golf Club
in Naples) that serve as additional amenities to its resorts, as well as
components of its exclusive social club, known as the Premier Club. In
addition, the Company owns and operates two golf courses in Boca Raton that are
part of the Boca Raton Resort & Club. Boca Resorts, Inc. can be accessed on
the Internet at http://www.bocaresortsinc.com/ .
About The Blackstone Group The Blackstone Group, a private investment firm with offices in New York,
Boston, Atlanta, London and Hamburg, was founded in 1985. Blackstone's Real
Estate Group has raised five funds, representing over $6 billion in total
equity, and has a long track record of investing in hotels and other commercial
properties. In addition to Real Estate, The Blackstone Group's core businesses
include Private Equity, Corporate Debt Investing, Marketable Alternative Asset
Management, Mergers and Acquisitions Advisory and Restructuring and
Reorganization Advisory. The Blackstone Group can be accessed on the Internet
at http://www.blackstone.com/ .
Cautionary Statement Concerning Forward-Looking Information Certain statements and information included in this release constitute
"forward-looking statements" within the meaning of the Federal Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance, or achievements of the Company to be
materially different from any future results, performance or achievements
expressed or implied in such forward-looking statements. Additional discussion
of factors that could cause actual results to differ materially from
management's projections, forecasts, estimates and expectations is contained in
the Company's SEC filings. DATASOURCE: Boca Resorts, Inc.
CONTACT: John Ford, VP Corporate Communications, The Blackstone Group, +1-212-583-5559, or Web site: http://www.bocaresortsinc.com/ http://www.blackstone.com/ Company News On-Call: http://www.prnewswire.com/comp/121425.html
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