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April 23, 2015
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UK: Private Equity Firm Set to Make £150m Bid for Gleneagles

A US private equity firm is set to make a £150 million bid for luxury hotel and golf resort Gleneagles.

KSL Capital Partners, which also owns Warwickshire golf hotel The Belfry, is one of two remaining bidders for the Perthshire hotel, the setting for last year’s Ryder Cup.

According to sources, Gleneagles’ current owner Diageo has received two firm offers for the luxury resort in the last month. It is not clear who the other bidder is.

KSL’s interest in Gleneagles comes as it looks to offload hotel operator Malmaison Group from its portfolio.

Malmaison, which also owns the Hotel du Vin chain, is up for sale for around £350m, and KSL started the process of looking for prospective buyers for the portfolio of 29 UK hotels in January. 

A Diageo spokeswoman said: "We are sure there are many people who would love to own Gleneagles and we have received numerous expressions of interest over the years and particularly since the Ryder Cup."

Read more at MeetPie.com...



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