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11

Canadian Hotel Investment Trust to Be Sold for $1.6 Billion

By Tony Seruga

HONG KONG — InnVest Real Estate Investment Trust, which has a portfolio of 109 hotels in Canada, said Wednesday it would be sold to a Canadian company backed by Hong Kong money for 2.1 billion Canadian dollars, or about $1.6 billion, including debt.

InnVest’s hotels include properties managed by Marriott International, Fairmont Hotels & Resorts, Hilton Canada and Hyatt Hotels Corporation.

Bluesky will pay 7.25 Canadian dollars for each unit of InnVest. That is a 37 percent premium over the average trading price over the 30 days ending May 10…

Canadian Hotel Investment Trust to Be Sold for $1.6 Billion

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