BC Partners has offered €476m, or €11 per share, for a majority stake in Greece’s Hyatt Regency Hotels & Tourism company in its first investment in the country.
Hellenic Casinos Company said it had agreed to sell its 51.6% stake in Hyatt, which operates hotels and casinos. BC Partners expected to make a tender offer for the rest of the listed company, which has a market capitalisation of €950m, in order to comply with Greek law.
Hellenic Casinos is owned by the Laskaridis, Pritzker and Theocharakis families. It had revenues of €298m in the 12 months to end-December 2004.
BC Partners is also understood to be one interested putative bidder for Ladbrokes, a UK-based gaming company being spun of from Hilton Hotels.