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Starwood Capital Group, a private investment company, agreed to buy the controlling stakes in two French companies-Groupe Taittinger SA and Societe du Louvre for $1.46 billion in cash. Thus Starwood will gain control over 2 of Paris’s historic luxury hotels and a 271-year-old Champagne producer and crystal maker Baccarat. Starwood will try to buy the remaining part of the companies after the sale is cleared by the EU. The total value would be $2.54 billion plus $605 million in debt. |
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