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Grupo Posadas Sells Portfolio to Accor

Paul, Weiss client Grupo Posadas, S.A.B. de C.V., a leading Mexican hotel operator in Latin America listed on the Mexican Stock Exchange, entered into an agreement to sell its South American hotel portfolio to Accor S.A.. the world's fourth-largest hotel group behind the InterContinental, Marriott, and Starwood chains, for $275 million. The purchase includes 15 hotels in Brazil, Argentina and Chile, along with 14 management contracts and the "Caesar Park" and "Caesar Business" brands operated by Grupo Posadas in South America.

The Paul, Weiss team advising Grupo Posadas included corporate partners Toby S. Myerson, Ariel J. Deckelbaum and Valerie E. Radwaner and counsel Scott P. Grader; antitrust counsel Didier Malaquin; employee benefits partner Robert C. Fleder; environmental counsel William J. O'Brien; intellectual property partner Charles H. Googe Jr. and counsel Claudine Meredith-Goujon; tax partner Jeffrey B. Samuels and counsel Alyssa F. Wolpin; and real estate partner Harris B. Freidus.

July 16, 2012

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