New York-based hotel, restaurant and nightclub operator SBE has confirmed it is in advanced merger talks with London-based Hakkasan Group. But a few months later, the two companies called the deal off. No financial details of the deal, which could close in the next 60 days, have been announced, but the combined firms would have an estimated value of $1bn. The deal comes as a number of US hotel chains are looking to expand their presence overseas.
New York-based hotel, restaurant and nightclub operator SBE has confirmed it is in advanced merger talks with London-based Hakkasan Group. No financial details of the deal, which could close in the next 60 days, have been announced, but the combined firms would have an estimated value of $1bn. The deal comes as a number of US hotel chains are looking to expand their presence overseas.