Polaris Holdings has announced a joint investment in Minacia, which was being acquired by the Star Asia Group.
Star Asia Group has established a special purpose company, Corrida, for the purpose of acquiring all shares of Minacia. Polaris Holdings will invest in this company with a stake less than 5%.
Minacia operates 39 hotels nationally, offering a total of 5,180 rooms under brands such as Wing International and Tenza Hotels. By combining these with Polaris Holdings’ operated hotels, the total expands to 89 hotels with 14,138 rooms, aiming for the maximization of corporate value.
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