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Last Updated: Friday, 27 January 2006, 13:07 GMT
Hilton shareholders approve sale
Hilton
The Hilton name has been two separate businesses since 1964
Shareholders of UK-based Hilton Group have approved the sale of its hotels operation to US namesake Hilton Hotels Corporation (HHC).

The 3.3bn ($5,9bn) sale, which was agreed by the two boards in December, will reunite the global Hilton hotel brand after 42 years.

It has been split since HHS sold its non-US hotels back in 1964.

Hilton Group's shareholders have also agreed to change the name of the firm to that of its Ladbrokes gambling unit.

Forthcoming transfer

The firm said the transfer of the hotels should take place on or after the publication of its 2005 annual results on 23 February.

HHC is now adding some 240 global Hilton Group hotels to its existing 2,300 in the US.

The two firms first revealed in October that they were in talks over the sale.

Hilton Group said Sir Ian Robinson would continue as chairman of Ladbrokes while Christopher Bell would become chief executive.


SEE ALSO:
Hilton hotels businesses reunited
29 Dec 05 |  Business
Hilton US plans to buy Hilton UK
14 Oct 05 |  Business
Hilton Group enjoys bumper year
24 Feb 05 |  Business
Hilton considers 200m UK casino
01 Nov 04 |  Business
Gambling boosts Hilton's profits
26 Aug 04 |  Business


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