Deal is firm, now scheduled to close on April 1, 2014. Here's the
press release from Marriott, and
Bill's thoughts on his blog.
Press Release:
Under terms of the agreements Marriott will pay approximately 2.02 billion rand, or approximately US $186 million at current exchange rates, subject to normal closing adjustments. The purchase price represents approximately 10 times anticipated pro forma 2014 calendar year EBITDA (earnings before interest, taxes, depreciation and amortization) excluding transaction costs.