Starwood Hotels & Resorts, Equity Group Investments enter letter agreement

By Lisa Kerner

Charlotte, N.C., Dec. 31 - Equity Group Investments, LLC entered into a letter agreement with Starwood Hotels & Resorts Worldwide, Inc. on Dec. 29, it was reported in a schedule 13D/A filed with the Securities and Exchange Commission.

Starwood Hotels agreed to provide the investor with proprietary information, and Equity Group agreed to a standstill provision, according to the letter agreement included in the filing.

Equity Group beneficially owns 14.75 million shares, or 8.1%, of the White Plains, N.Y.-based hotel and leisure company.

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