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PLYA News

No relaxing at the beach: SPAC TPG Pace Holdings files for a $400 million IPO

TPG Pace Holdings, a TPG-backed blank check company formed by hotwire.com founder Karl Peterson, filed on Wednesday with the SEC to raise up to $400 million in an initial public offering. The Fort Worth, TX-based company was formed in 2017 and it plans to list on the NYSE under the symbol TPGH.U. Deutsche Bank, Goldman Sachs and J.P. Morgan are the joint bookrunners on the...read more

Riding off into the sunset: Playa Hotels officially withdraws IPO; Listed through SPAC merger

PLYA

Playa Hotels & Resorts, which owns 13 all-inclusive beach resorts in Mexico and the Caribbean, withdrew its plans for an initial public offering on Friday. In December, it announced it had entered into a merger agreement with Pace Holdings (PACEU), a special purpose acquisition company backed by TPG. The transaction value is estimated at $1.75 billion. It originally filed...read more

US IPO Weekly Recap: trivago leads final 3 IPOs of 2016 with an 8% return

TRVG

This past week saw the last three IPOs of 2016 raise $735 million. IPO investors were stubborn until the end, as all three had to price at large discounts to public peers and below expectations. After hitting all time highs earlier in the week, markets absorbed the Fed's long-anticipated rate hike and the news of three potential increases next year. The year ended...read more

Playa Hotels & Resorts announces $1.75 billion merger with TPG-backed SPAC Pace Holdings

PLYA

Playa Hotels & Resorts (PLYA), which owns 13 all-inclusive beach resorts in Mexico and the Caribbean, announced Tuesday it has entered into a merger agreement with Pace Holdings (PACEU), a special purpose acquisition company backed by TPG. The transaction value is estimated at $1.75 billion. Pace's management has significant experience in the travel...read more