Acta Holding ASA's property companies make bid for US hotel owner Winston Hotels Inc

Nordic Business Report, Feb 22, 2007

NORDIC BUSINESS REPORT-22 February 2007-Acta Holding ASA's property companies make bid for US hotel owner Winston Hotels Inc(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com

Norwegian investment adviser Acta Holding ASA said on Thursday (22 February) that its property investment vehicles Global Eiendom Utbetaling 2007 AS and Global Fastighet Utbetalning 2007 AB have, in cooperation with Och-Ziff Real Estate, made a bid for the US hotel owner Winston Hotels Inc (NYSE: WXH).

The offer is being made through the joint company Wilbur Acquisition Holding Company.

"The estimated transaction value in this joint venture is approximately USD760m of which GEU 2007 AS and GFU 2007 AB will own approximately 60% at an estimated transaction value of approximately USD460m," Acta Holding said.

The offer is supported by the board of Winston Hotels.

Winston Hotels owns a portfolio of 53 hotels in the US.

Acta Holding, headquartered in Stavanger, is an investment adviser and property investor with some NOK66bn in assets under management. The company is listed on the Oslo Stock Exchange and traded under the ticker ACTA.

One British pound (GBP) is worth approximately 1.95 US dollars (USD).One British pound (GBP) is worth approximately 11.95 Norwegian kroner (NOK).

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