Thistle ends talks with possible buyer

Article Abstract:

Thistle Hotels PLC of the UK has ended negotiations towards a possible sale of its hotel management operations to an unnamed bidder at a time when it is the second-biggest hotel operator in the country. The buyer was persuaded to change course amidst changes in global stock markets. However, Thistle intends to pursue reorganization efforts instead to improve stockholder value. Brierley Investment Ltd. will prioritize investment opportunities in New Zealand and Australia rather than pursue the sale of Thistle as it had earlier suggested.

Comment:

Prioritizes investment opportunities in N Zealand and Australia rather than pursue sale of Thistle Hotels PLC of UK

United Kingdom, Australia, Asset sales & divestitures, Investment Companies, Open-End Investment Funds, Hotels & Motels, New Zealand, Hotels and motels, Brierley Investments Ltd., Thistle Hotels Ltd.

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Sol Melia weathers impact of Asian economic crisis

Article Abstract:

Sol Melia SA's decision to focus on the Latin American market has helped it survive in the midst of the Asian financial crisis. The Spain-based hotel-management firm, whose shares have risen by 15% since the Asian economic downturn in July 1997, has managed to shift its investments in the Latin American market where it now operates 40 of its 245 hotels in 25 countries. The move by Sol Media to focus on marketing and managing, rather than building new hotels, has also helped the firm's performance.

Comment:

Its decision to focus on the Latin American market has helped it survive in the midst of the Asian financial crisis

Latin America, Hotel Management, Hotel management companies, Sol Melia SA

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Volvo refutes talk it plans to dispose of auto division

Article Abstract:

Volvo AB, the Swedish car manufacturer, has been countering rumors that the company has plans to shut down its auto division. The rumors stem from recent plans for expanded coordination between its four existing divisions. The four divisions, which include trucks, buses, construction equipment and industrial engines, will not be combined into a single unit. Volvo's CEO contends that the corporate structure of the company will remain the same.

Strategy & planning, Sweden, Motor Vehicles & Parts, Transportation Equipment Manufacturing, AB Volvo

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