Hilton completes on Scandic sale

Hilton Hotels Corporation has completed the sale of the 132 hotel Scandic chain to EQT for €833 million or approximately US$1.1 billion. Net proceeds after transaction costs and taxes are expected to be approximately $1.04 billion and will be used to pay down debt.

As announced on March 2, 2007, this transaction is expected to reduce the company’s 2007 recurring EPS by $.10 per share.
——-