De Vere Group receives approach

23 March 2006
De Vere Group receives approach

De Vere Group said today it has received a preliminary approach for the company.

In a statement to the London Stock Market the hotel group said: "Following recent press speculation, the board of De Vere Group confirms that it has received a preliminary approach which may or may not lead to an offer being made for the company."

De Vere said a further announcement would be made in due course.

Media reports have put US private equity group Blackstone in the frame.

Blackstone paid £451m for Hospitality Europe earlier this week. The European company owns four Sheraton-branded hotels at Frankfurt airport as well as the Paris Hyatt.

Blackstone buys Hospitality Europe >>

De Vere reveals new identity >>

Company profile: De Vere Group >>

By Chris Druce

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