BALTIMORE AND MORAGA, CA Carnegie International Corp., an Internet support and telephony holding company, and Host Funding, a hotel real estate company that owns 11 limited service hotel properties, have signed a Letter of Intent to merge. The merger is scheduled to close by April 16, 2001, following negotiation of definitive contracts, corporate filing requirements and completion of due diligence.
Host Funding will be the surviving corporation of the merger, with Carnegies management team, led by Chairman E. David Gable and President Lowell Farkas, guiding the consolidated company. The resulting company will be based at Carnegies existing headquarters in suburban Baltimore. (1/18/01)