Arab Today, arab today us fund inks deal for oman resort operator
Last Updated : GMT 06:51:35
Arab Today, arab today
Arab Today, arab today

US fund inks deal for Oman resort operator

Arab Today, arab today

Arab Today, arab today US fund inks deal for Oman resort operator

Muscat - Arabstoday

Six Senses Resorts & Spas, which operates the popular Zighy Bay resort in Musandam, Oman, is being taken over by US-based private equity fund manager Pegasus Capital Advisors. Pegasus has entered into a binding agreement to acquire  the Bangkok-based ultra-luxury resort and spa business for an undisclosed sum, a statement said. Under the terms of the deal, Pegasus will acquire all of the Six Senses and Evason branded resort and spa management contracts and related intellectual property rights. Pegasus added that it will operate them under a new company controlled by the US fund manager. and its affiliates.   Bernhard Bohnenberger, currently the president of Six Senses, will continuing in the role, the statement added. “Six Senses is known around the world for providing a unique and innovative guest experience,\" said Craig Cogut, founder, Pegasus Capital Advisors. “The brand has a great heritage, and we believe it is strongly positioned to grow. Going forward, the new Six Senses will be a debt-free company with committed capital for expansion into new and within existing international markets.\" The Soneva brand and resorts, as well as the company’s real estate assets and holdings, are not included in the transaction, and will continue to be led by Sonu Shivdasani, the former founder and CEO of Six Senses, who will serve as chairman and CEO and principal shareholder of The Soneva Group. The transaction is expected to close within the next three months. Six Senses manages a total of 10 resorts and 28 spas in 20 countries around the world, with another 15 under construction or development.

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