Following receipt of relevant regulatory approvals, InterContinental Hotels Group PLC (IHG) [LON:IHG, NYSE:IHG (ADRs)] announces the completion of the sale of InterContinental Paris – Le Grand to Constellation Hotels France Grand SA, an affiliate of Constellation Hotels Holding Limited.
The terms of the transaction are unchanged from those announced on 7 August 2014.
Gross disposal proceeds of €330 million ($368m*) have been received in cash and the proceeds will be used for general corporate purposes. IHG will continue to manage the hotel under a long-term management contract.
