(Reuters) -A group of investors led by New York-based MCR Hotels is taking Soho House private for about $2.7 billion including debt, the members’ club operator said on Monday, sending its shares up 15% before the bell.
Soho’s shareholders will receive $9 per share, a 17.8% premium to the stock’s closing price of $7.64 on Friday.
Soho House has been public since 2021 but struggled financially, losing more than 46% of its market value since the company floated its shares in New York. It is currently valued at $1.49 billion.
It had formed a special board committee in Feb. 2024 to explore taking the company private.
(Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Devika Syamnath)
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