NEW YORK The Hilton Group is believed to be nearing completion of the sale of its casino division to Gala, the bingo operator, for #235 million.
Gala, which is backed by Credit Suisse First Bostons private equity arm, is understood to have overcome a late rival bid and met the asking price set by Hiltons chief executive, David Michels. Both parties are believed to be confident that a deal is imminent.
(12/15/00) SOURCE: HVS International