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Mexico's Hoteles City expects to raise $250 million

Friday, June 14, 2013

Mexican hotel chain Hoteles City expects to raise around $250 million via a global share offering Thursday, according to a prospectus filed with the Mexican Stock Exchange.

Citigroup unit Banamex, Morgan Stanley and Mexican brokerage Actinver are leading the deal.

Hoteles City operated 70 hotels in Mexico at the end of 2012, as well as one in Costa Rica. The company says it is the third-biggest hotel chain in Mexico.

Source: Wall Street Journal