Sortis Holdings, Inc. (OTCPK:SOHI) entered into a definitive agreement to acquire Ace Group International, LLC for $85 million on January 17, 2023. Transaction also includes its management company Atelier Ace. The purchase consideration is comprised of $85 million in an all-cash transaction pursuant to the terms of the purchase agreement. The combined entity of Ace Group International and Sortis Holdings will have 15 hotels under management and a robust pipeline. The transaction is expected to close at the end of Q1 2023, subject to customary closing conditions.
Sortis Holdings, Inc. (OTCPK:SOHI) completed the acquisition of Ace Group International, LLC for $85 million on January 20, 2023.