Nasdaq GlobeNewswire

Pace Holdings Corp. Completes Business Combination with Playa Hotels & Resorts

Del

Combined company named Playa Hotels & Resorts and will trade on NASDAQ under PLYA

Transaction provides significant capital and complementary capabilities to further Playa’s leading position

FAIRFAX, Va., and FORT WORTH, Texas, March 13, 2017 (GLOBE NEWSWIRE) -- Pace Holdings Corp. (“Pace”) a special-purpose acquisition company sponsored by an affiliate of TPG, today announced that it has completed its business combination with Playa Hotels & Resorts (“Playa”), a leading owner, operator, and developer of premier all-inclusive resorts. With the closing of this transaction, the combined company is named Playa Hotels & Resorts and its ordinary shares and warrants will trade on NASDAQ under the ticker symbols PLYA and PLYAW respectively beginning on Monday, March 13, 2017.

On December 13, 2016, Pace and Playa entered into a definitive transaction agreement. The transaction was approved by the shareholders of Pace on March 1, 2017, with over 99 percent of the voted shares voting in favor of the business combination. Pace’s board of directors had previously approved the business combination and recommended that its shareholders vote in favor of the proposal. The transaction immediately significantly strengthens Playa’s balance sheet by fully redeeming its preferred shares, and also provides significant additional capital for growth.

As previously announced, Playa CEO and Chairman Bruce Wardinski and his management team will continue to run the combined company. In connection with the closing of the transaction, TPG Partner and Pace President and CEO Karl Peterson has been appointed to the company’s board of directors. He is joined by Paul Hackwell, an investor in TPG’s Travel & Leisure and Retail Group, and Tom Klein, the former President, CEO, and member of the board of directors of Sabre Corporation. Other members of the board of directors include Stephen Haggerty, Daniel Hirsch, Hal Stanley Jones, Elizabeth Lieberman, Stephen Millham, Arturo Sarukhan.

Playa will release its 2016 financial and operating results on Tuesday, March 14, 2017 after the market closes.  Playa will host a conference call to discuss its 2016 results on March 15, 2017 at 10:00 a.m. ET (Eastern Time). The conference call can be accessed by dialing (866) 393-5826 for domestic participants and (954) 320-0070 for international participants. The conference ID number is 80776088.

Additionally, interested parties may listen to a taped replay of the entire conference call commencing two hours after the call has been completed. This replay will run through Thursday, March 30, 2017. The access number for a taped replay of the conference call is (855) 859-2056 or (404) 537-3406 using the same conference ID number. There will also be a webcast of the conference call accessible on the company’s investor relations website at www.investors.playaresorts.com.

About Playa Hotels & Resorts  
Playa Hotels & Resorts is a leading owner, operator and developer of all-inclusive resorts in popular vacation destinations in Mexico and the Caribbean.  Playa owns a portfolio consisting of 13 resorts (6,142 rooms) located on prime beachfront properties across Mexico, the Dominican Republic, and Jamaica. In 2013, Playa entered into a strategic partnership with Hyatt to create two all-inclusive brands under the Hyatt name, Hyatt Ziva and Hyatt Zilara, of which Playa is the sole franchisee. Playa operates six Hyatt resorts across Mexico and Jamaica, one of which sits in the only private cove in Puerto Vallarta. Through its relationship with Playa, Hyatt is the first major U.S. brand to have entered the all-inclusive segment.

About Pace Holdings
Pace was formed with the purpose of acquiring a company that would be better suited to generate strong returns in the public markets while benefiting from the broader operational knowledge, resources and private equity heritage of TPG. This transaction builds on TPG’s efforts to grow its private equity offering by servicing different return profiles and product types. Since the start of 2014, the firm has launched several new products, including Pace, TPG Real Estate Finance Trust (“TRT”), TSL Europe and Arrow Ridge Capital.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. You can identify these forward-looking statements by the use of terminology such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words or phrases. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in the Company’s Form S-4 registration statement, filed February 7, 2017, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov.  Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company’s filings with the SEC. While forward-looking statements reflect the Company’s good faith beliefs, they are not guarantees of future performance. Playa disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based only on information currently available to us (or to third parties making the forward-looking statements).

         Media Contacts:
         Pace Holdings Corp.
         Luke Barrett
         (212) 601-4752
         media@tpg.com
         
         Playa Hotels & Resorts
         Karen Callahan
         (954) 801-7116
         KCallahan@PlayaResorts.com
         
         Investor Contacts:
         
         Pace Holdings
         (212) 405-8458
         Pace@tpg.com
         
         Playa Hotels & Resorts
         Ryan Hymel
         (571) 529- 6113
         ir@playaresorts.com

Om Nasdaq GlobeNewswire

Nasdaq GlobeNewswire
Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

+1 212 401 8700http://www.nasdaqomx.com

NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.

Følg saker fra Nasdaq GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Nasdaq GlobeNewswire

TrueCommerce Datalliance Releases Third 2017 Update for Vendor Managed Inventory Platform14.12.2017 19:28Pressemelding

Latest Software Update Enhances Browser, Productivity Experience CINCINNATI, Dec. 14, 2017 (GLOBE NEWSWIRE) -- TrueCommerce Datalliance, a leading vendor managed inventory service solutions provider, announced today that it released the third scheduled 2017 update to its VMI platform. The free update is part of TrueCommerce Datalliance's commitment to improving the functionality of its cloud-based supply chain software. Highlights of the release include several improvements to its system architecture and capabilities: Google Chrome is now officially supported Order Worksheets are now easier to view in Internet Explorer One-click access to recently changed or added items Mass Launch Order Preview lists all items suggested or added via allocation "We promise our customers three major updates every year," said Connie Shafer, TrueCommerce Datalliance Producti

ATTO announces support for Apple® Release of the new iMac Pro14.12.2017 18:37Pressemelding

ATTO's line of ThunderboltTM technology enabled products continue to revolutionize connectivity to storage AMHERST, N.Y., Dec. 14, 2017 (GLOBE NEWSWIRE) -- ATTO Technology, Inc., a global leader of storage and network connectivity and infrastructure solutions for data-intensive computing environments, today confirmed their continued commitment to the newly released line of product updates and innovations from Apple. With the powerful and new iMac Pro® now shipping, ATTO continues to support the new offerings from this industry leading manufacturer. "Our deep relationship with Apple over the last 30 years continues to drive our position as a leading force within the Apple community," said Timothy J. Klein, president and CEO at ATTO Technology. The iMac Pro sets a new standard for Apple design and performance and complements why users select ATTO products. As Apple pushes the boundaries of desktop computing, ATTO continues to provide industry leading products that op

Seaborn Networks' CEO Larry Schwartz is Named in List of 100 Most Powerful People in Telecoms Worldwide14.12.2017 16:12Pressemelding

BOSTON, Dec. 14, 2017 (GLOBE NEWSWIRE) -- Seaborn Networks ("Seaborn"), a leading developer-owner-operator of submarine fiber optic cable systems, is pleased to announce that Larry Schwartz, Seaborn's Chairman & CEO, has been named one of the 100 most powerful people in the telecoms industry by Global Telecoms Business ("GTB"). The Power 100 List annually identifies the most influential people in telecoms, content and Internet companies, selecting nominations from readers of the publication. Larry is one of only six people included on the list from the global subsea and data center industries. GTB notes that these top 100 were "those the industry felt were the real power, the real influencers, behind the telecoms sector" and were chosen by the editorial team with input from GTB's readers. In only a few years, Larry has led Seaborn from being a start-up to now being a leading player in the global telecommunications industry, setting precedents with its business model, fina

Mayo Clinic to begin Prospective Clinical Study with Medibio Technology for Expanded Market Opportunities14.12.2017 15:10Pressemelding

Study designed to determine differential diagnosis in depression patients Study designed to monitor patient data following pharmacological treatment SYDNEY, Australia and MINNEAPOLIS, Dec. 14, 2017 (GLOBE NEWSWIRE) -- Medibio Limited (MEB or the Company) (ASX:MEB) (OTCQB:MDBIF), a mental health technology company that has pioneered the use of objective biometrics to assist in the screening, diagnosing, monitoring and management of depression and other mental health conditions,  is pleased to announce the first prospective clinical trial with Mayo Clinic under a 5-year Master Clinical Trial Agreement that was signed in October of this year.  This initial study, undertakes the prospective diagnosis and longitudinal monitoring of both unipolar and bipolar depression, along with the depressive subtypes (melancholic and atypical). The primary goal is to characterize longitudinal autonomic, circadian, and

The 1st free cross-border ecommerce library available to online merchants14.12.2017 10:00Pressemelding

A competitive edge instrumental in succeeding in today's dynamic retail world AMSTERDAM, The Netherlands, Dec. 14, 2017 (GLOBE NEWSWIRE) -- Acapture, a global, data-driven omnichannel PSP, has released a complete library of free infographics for merchants, outlining the latest exclusive data for 31 of the world's most exciting ecommerce markets. Online retailers, marketplaces, and other ecommerce merchants are given a competitive edge, instrumental in succeeding in today's dynamic retail world. With each infographic providing actionable stats, facts and figures from a major ecommerce region, illustrated with clear, reader-friendly graphics, the collection is essential reading for all merchants looking to seize current cross-border opportunities. By understanding the preferred local payment methods, the most popular B2B and B2C product categories, top import and export regions, most popular ecommerce sites and much more, merchants can make

Concurrent Stockholders Approve Proposal to Sell Content Delivery & Storage Business to Vecima Networks13.12.2017 22:47Pressemelding

ATLANTA , December 13, 2017 - The stockholders of Concurrent (NASDAQ:CCUR), a global leader in storage, protection, transformation, and delivery of visual media assets, have approved all proposals presented at a special meeting of its stockholders held on December 13, 2017.  The proposals related to the sale of Concurrent's content delivery and storage business to Vecima Networks Inc. (TSX:VCM).  Derek Elder, President and CEO of Concurrent, commented, "The Board of Directors and our management team appreciate the overwhelming support of our proposals from Concurrent's stockholders.  We expect to close the announced transaction with Vecima Networks by the end of the calendar year.  The investment committee established by the Board of Directors will continue to evaluate options to maximize the value of the Company's remaining assets after the close of the sale to Vecima." The specific voting results for each of the proposals considered at the special stockholder's

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom