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MarketScreener Homepage  >  Equities  >  Nyse  >  Goldman Sachs Group    GS

GOLDMAN SACHS GROUP

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Goldman Sachs : PAI Partners in Exclusive Talks to Sell B&B Hotels to Goldman Sachs

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05/20/2019 | 06:39am EDT

By Colin Kellaher

European private-equity firm PAI Partners on Monday said it holding exclusive talks to sell its B&B Hotels budget hotel chain to Goldman Sachs Group merchant-banking division.

Financial details weren't disclosed, but the Financial Times, citing a person familiar with the deal, earlier reported that the proposed transaction is valued at 1.9 billion euros ($2.1 billion), which would leave PAI with a return of close to three times its initial investment.

PAI said it expects to complete the sale of B&B, which operates 486 budget with a total capacity of 42,832 rooms across 12 countries, in the second half of the year.

Paris-based PAI acquired B&B from Carlyle Group L.P. (CG) and Montefiore Investment in March 2016. The private-equity firm, which manages EUR12.3 billion of dedicated buyout funds, said a sale of B&B would mark the fourth exit from its PAI Europe VI fund.

Write to Colin Kellaher at colin.kellaher@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
GOLDMAN SACHS GROUP -0.86% 197.43 Delayed Quote.18.19%
THE CARLYLE GROUP LP -0.62% 20.93 Delayed Quote.32.89%
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Financials ($)
Sales 2019 35 221 M
EBIT 2019 12 424 M
Net income 2019 8 754 M
Debt 2019 -
Yield 2019 1,73%
P/E ratio 2019 8,48
P/E ratio 2020 7,63
Capi. / Sales 2019 2,05x
Capi. / Sales 2020 1,97x
Capitalization 72 228 M
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Technical analysis trends GOLDMAN SACHS GROUP
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 27
Average target price 228 $
Spread / Average Target 15%
EPS Revisions
Managers
NameTitle
David Michael Solomon Chairman & Chief Executive Officer
John E. Waldron President & Chief Operating Officer
Stephen M. Scherr Chief Financial Officer & Executive Vice President
James A. Johnson Independent Director
William W. George Independent Director
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