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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.