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Prospect News home > News index > List of issuers I > Headlines for Innkeepers USA Trust > News item
Published on 6/29/2007 in the Prospect News Special Situations Daily.

Apollo Investment's acquisition of Innkeepers is complete

By Lisa Kerner

Charlotte, N.C., June 29 - Apollo Investment Corp.'s affiliate Grand Prix Holdings LLC closed its acquisition of Innkeepers USA Trust following approval by the company's shareholders on June 26, according to a company news release.

Under the terms of the agreement, Grand Prix acquired the Palm Beach, Fla., hotel real estate investment trust for $17.75 per common share in cash, plus the assumption of debt.


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