Swiss Firm Acron Snaps Up Brazil's Hotel Gloria

Law360, New York (February 3, 2014, 2:02 PM EST) -- Swiss investment firm Acron AG announced Monday that it has entered the Brazilian market with the purchase of the iconic Hotel Gloria — in a deal reportedly worth 200 million reais ($83 million) — and is in negotiations with several hotel management groups, including the Four Seasons, to run it.

Acron do Brasil Ltda inked a purchase agreement on Saturday for the Rio de Janeiro property, the company said. The property deal, made with a unit helmed by embattled Brazilian real estate magnate Eike Batista, was...
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