London -based hotel, restaurant and nightclub operator SBE has confirmed it is in advanced merger talks with New York -based SBE . 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 . SBE 's portfolio includes the SLS, The Redbury and Morgan hotels , as well as the Umami Burger , Katsuya and Katsuya restaurants, while Hakkasan Group operates brands including Morgan hotels and Searsucker .
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. SBE's portfolio includes the SLS, The Redbury and Morgan hotels, as well as the Umami Burger, Cleo and Katsuya restaurants, while Hakkasan Group operates brands including Herringbone and Searsucker.