NEW YORK, March 15 (Reuters) - An investor group led by Starwood Capital is saying its plan to take U.S. mid-priced hotel chain Extended Stay America Inc [ESAIN.UL] out of bankruptcy would be a better option than the company's plan, which is backed by rival private equity firms.
Starwood said in court papers filed on Saturday that it had submitted a "binding offer" to sponsor Extended Stay's plan of reorganization on Friday. Starwood said that it believes its offer would provide "substantially greater" value for the company's creditors, and more access to new cash for the company.
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