Detailed negotiations for the purchase of Thistle Hotels are expected to start this week.
The Leeds-based group of 90 hotels is said to have narrowed down a shortlist of five bidders to a final two, according to the Financial Times. The Independent says they are Normura Securities and Accor the French hotel group. But it says another two are interested in the group’s London hotels and three more are interested in the provincial hotels.
The Sunday Telegraph reported that advisers to Thistle had received seven final bids for all or part of the group.
Financial Times 03/08/98 page 18
The Daily Telegraph 03/08/98 page 24 (The City Checklist)
The Independent 03/08/98 page 17
