Crestline Capital Closes Merger With Barcelo

MCLEAN, VA— Crestline Capital Corp. has closed on its previously announced merger with a wholly-owned subsidiary of Barcelo Corporacion Empresarial, S.A., based in Palma de Mallorca, Spain. The new company will be named Barcelo Crestline Corp. The merger was approved by the holders of 77.9% of Crestlines shares outstanding and entitled to vote at a special meeting of stockholders that was held on June 6. The affirmative vote of the holders of at least two-thirds of Crestlines shares outstanding and entitled to vote was required to approve the merger. Stockholders will receive $34 in cash for each share of Crestline common stock owned. Deutsche Banc Alex. Brown acted as exclusive M&A advisor to Crestline Capital and Banc of America Securities acted as exclusive M&A advisor to Barcelo for this transaction.