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Private Equity Firm To Buy Six Senses Chain

Category: Hotels, Posted:11 Apr 2012 | 08:49 am

Newslines are buzzing over the reported sale of the Thailand based Six Senses Resort chain to private equity group Pegasus Capital Advisors.
A binding agreement has been entered into by the two parties and their affiliates for an undisclosed sum. The transaction is expected to close within three months.
Under the agreement the management contracts, intellectual property (brand names) and spa operations will be shifted into a new company vehicle which Pegasus is forming. Current President of Six Senses Bernard Bohnenberger will be retained by the new group.
One key to the deal is that the Soneva brand has been carved out of the deal and will be retained by founder Sonu Shivdasani.
Pegasus Capital is headed by Craig Cogut, and currently manages USD2.5 billion in a portfolio, which are spread though different industries globally.
Six Senses have been trying to sell their Rawai and Pranburi resorts for a sustained period of time, and industry sources in Phuket speculate that a trade for the southern island property will happen in the near future.

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