Blackstone's La Quinta Says Files Confidentially for IPO

Source:  Reuters

La Quinta Holdings Inc, a hotel chain backed by Blackstone Group LP, said on Monday it had confidentially filed with U.S. regulators for an initial public offering of its common stock.

The company has filed with the U.S. Securities and Exchange Commission under the controversial Jumpstart Our Business Startups (JOBS) Act, which allows firms to submit registration documents to the SEC away from public eyes.

Reuters reported earlier that Blackstone was seeking as much as $4.5 billion for the La Quinta chain in an auction that attracted interest from hospitality holding companies such as Choice Hotels International Inc.

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