Hmm can't wait to see her working the check out lines at Wal-Mart
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Blackstone buys Hilton for $26bn
US private equity group Blackstone is buying the global Hilton Hotels chain for $26bn (£13bn) in an all-cash deal. Under the deal, Blackstone is paying $47.50 for each Hilton Hotels Corporation share, a 32% premium over their closing price on Tuesday. [/p] Blackstone said the deal had been approved by Hilton's board, and was due to be completed by the end of 2007. [/p] The surprise announcement comes two weeks after Blackstone raised $4.13bn through floating a 13.2% stake. [!-- E SF --] [/p] Numerous hotel brands [/p] Blackstone said it intends to grow the Hilton business. [/p] The private equity firm already has a number of hotel investments, including La Quinta Inns and Luxury Resorts and Hotels. [/p] US-based Hilton's other brands include Conrad Hotels, and the Waldorf-Astoria Collection. [/p] Blackstone's co-founders, Stephen Schwarzman, 60, and Peter Peterson, 81, earned more than $2.4bn between them from last month's share sale. [/p] The global network of Hilton hotels were reunited as one company in 2006 after a 42-year split. [/p] The reunion happened after Hilton Hotels Corporation (HHC) paid $3.3bn to buy the 400 international Hilton hotels owned by UK-based Hilton Group. [/p] The division took place in 1964, when HHC sold off all its overseas hotels to concentrate on the US market. [/p][a href="http://news.bbc.co.uk/2/hi/business/6267856.stm"]http://news.bbc.co.uk/2/hi/business/6267856.stm[/a]
26 Billion? The way I see it she won't have to work a day in her life.
She would not understand the concept of working.
well hopefully she can buy an island and stay there.
She can buff my toadstool on this island of hers!!
LOL, asking Paris to "get a job like the rest of us" is like asking the Queen to work at McDonald's!
We all know that she wouldn't want to break that precious nail of hers.
Oh most of the money sold goes to the shareholders. Hilton family doesn't run the hotel chain anymore. But Paris can't go into the 'family business' anymore though.
Good. She'd probably request that the Hotel be pink or something.
she'll lose cultural status anyway. Tabloids and news wires have inacted Paris bans. US Weekly is the biggest tabloid to inact a ban. AP has one too.
[div]Paris...[/div]