Deal making family offices
Family offices continue to have an insatiable appetite for deals – here’s a couple of new ones of interest. Earlier this week, a Dubai-based family office (name unknown), working with other investors, has put together a $1.3 billion bid for a number of high-end hotels, including London’s Grosvenor House Hotel and New York’s Plaza. A UK multi-family office called 3 Associates, according to the Financial Times, submitted the offer, with most of the money coming from a “Saudi family that runs a private wealth fund in Dubai”.
Also of interest is the news that a Czech family office called R2G is seeking to acquire beer brands being sold off in central and eastern Europe by SABMiller, which is currently being taken over by Anheuser-Busch InBev. R2G was set up by Oldrich Slemr, a former shareholder of the Ceska Gumarenska group, an industrial tire manufacturing business.