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Major stakes in oceania up for grabs

1 min reading time

Published on 04/04/11 - Updated on 17/03/22

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Companies are scrambling to acquire a higher presence in the Oceanic region through a controlling stake in Oaks Hotels and Resorts, the Australian based chain with hotels throughout Australia, New Zealand and one in Dubai. One of the largest leisure companies in the Asia Pacific region, Minor Company PCL (which already owns 15 % of Oaks) made a cash bid of A$61 billion (43.6 B€) for the Brisbane-based group. Industry insiders report that the Mantra Group (formerly known as Stella), Accor Hospitality, The Ascott and Amalgamated Holdings are also eyeing the 36.4% controlling stake in Oaks, the third-largest Australian franchise.

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