- Westmont Hospitality Group agreed to buy China Evergrande Group’s iconic log-cabin hotel in Canada out of bankruptcy proceedings after the Chinese real estate company failed to make payments on its debt.
- The acquisition of Fairmont Le Château Montebello was approved by the Quebec Superior Court and the transaction is expected to close on Nov. 15, with no financial details disclosed.
- A total of 30 bids were initially made and deemed admissible, including an offer from a group that included Michael Andlauer, the owner of the Ottawa Senators professional hockey team, which had pledged to invest as much as C$150 million.
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