Sonesta International Hotels Corporation (Nasdaq:SNSTA) (“Sonesta”) announced today that it has completed its previously announced sale to Sonesta Acquisition Corp. (“SAC” formerly known as Property Acquisition Corp.), an affiliate of Hospitality Properties Trust (NYSE:HPT) for $31.00 in cash per share of Class A common stock of Sonesta.
Simultaneously with the completion of the transaction, Sonesta ceased to be a publicly owned company, and its stock stopped trading on the NASDAQ at the close of the market today. SAC will be changing its name to “Sonesta International Hotels Corporation”.