Latest news with #MCR Hotels
The Independent
a day ago
- Business
- The Independent
A-list actor joins board of Soho House as take-private deal agreed
Soho House, the London-based private members' club business, is to be taken private by a consortium of investors in a deal valued at approximately US$2.7 billion (£2 billion). The consortium leading the takeover includes New York-based hotel giant MCR Hotels and private equity firm Apollo, with shareholders set to receive $9 (£6.64) per share. A-list actor and tech investor Ashton Kutcher will invest in Soho House as part of the deal and will join the company's board of directors. MCR boss Tyler Morse will also join the board as vice chairman, while a raft of existing shareholders, including Ron Burkle and founder Nick Jones, will retain their stakes. Soho House, founded in London in 1995, has expanded globally and currently operates 46 Soho House sites, eight Soho Works, and other hospitality businesses.
Times
a day ago
- Business
- Times
Soho House closes in on $1.8bn take-private deal
Soho House, the operator of private members' clubs for the creative class, is reported to be nearing a $1.8 billion sale to a group of investors led by New York-based MCR Hotels. Under the take-private deal, Soho House shareholders would receive $9 per share, a 17.8 per cent premium to the closing price of $7.64 on Friday, the Wall Street Journal reported. The company, currently valued at $1.49 billion, floated on the New York Stock Exchange on July 14, 2021, at $14 a share. The company has struggled as a listed company, and the price has only been above the float price once. It has faced criticism about a loss of exclusivity and 'magic' after expanding. The billionaire Ron Burkle, executive chairman of Soho House since 2012 and a controlling shareholder, is expected to roll over his stake, along with several other shareholders, the Journal said.
