Fairmont Hotels acquired by Kingdom Hotels and Colony Capital for US$4.5 billion

On May 11, 2006, affiliates of Kingdom Hotels International and Colony Capital LLC announced the completion of the acquisition by Plan of Arrangement of all of Fairmont Hotels & Resorts Inc.'s outstanding common shares, in a deal valued at $4.5 billion including debt. The combined portfolios have transformed the companies into a global hotel leader, headquartered in Toronto, with 120 hotels in 23 countries. Shareholder approval was given on April 18 and the Ontario Superior Court of Justice approved the Plan of Arrangement on April 20. Fasken Martineau lawyers Bill Orr and Aaron Atkinson advised the special committee of the board of directors of Fairmont Hotels.