Blackstone (BX.N) will make a full takeover bid for Hispania (HIS.MC) via investment vehicle Alzette Investment, in a deal valuing the Spanish hotel group at around 1.9 billion euros ($2.3 billion), Alzette said on Thursday.

Blackstone has agreed to buy 16.65 percent of Hispania at 17.45 euros per share for a total of 315.4 million euros from funds QP Capital Holdings Ltd and QPB Holdings Ltd, Alzette said in a statement to the market regulator.

Both funds are run by billionaire investor and activist George Soros.

READ FULL ARTICLE HERE