Environmental queries arise in fight for Avista

Article Abstract:

Real estate investment trust Avita of Toronto, Ontario, has received competing takeover bids from Summit and Canadian Real Estate Investment Trust (CREIT). Canada Life Assurance Co., the biggest investor in Avista, is supporting the bid of Summit. Avista trustees, with the exception of Delta Hotels Ltd founder William Pattison, is supporting CREIT's bid. Pattison said that his opposition is based on his concerns that CREIT may not be spending enough to deal with environmental problems at some of its properties.

Real Estate Invest Trusts, Real Estate Investment Trusts, Avista, Summit

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U.S. hospitality firm buys stake in UniHost

Article Abstract:

US hospitality firm Westmont Partnership has acquired an 18% equity interest in Canadian hotel operator UniHost Corp. Westmont is owned by Westmont Hospitality Group and is affiliated with Goldman Sach & Co. The equity interest was acquired from UniHost's two largest shareholders with a value of $40 million. Westmont intends to eventually assume control of UniHost.

Foreign operations, Hotels (except Casino Hotels) and Motels, Hotels & Motels, UniHost Corp., Westmont Partnership

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