Stibbe advises APG and GIC on the acquisition of an approximate 33% interest in HHR Euro C.V. from their joint venture partner Host Hotels & Resorts Inc.
The joint venture currently owns 11 luxury and upper-upscale hotels in seven European countries, including Hotel Arts Barcelona, Westin Palace Madrid and Hilton Amsterdam Airport Schiphol. The parties signed the purchase agreement on 31 October 2018. The transaction is expected to close shortly. Stibbe also advises APG on the formation of its new joint venture structure with GIC, which will be implemented upon the closing of the transaction with Host.