Pegasus to acquire all of Six Senses
US-based Pegasus Capital Advisors LP, a private equity fund manager, through one or more of its affiliates, has entered a binding agreement to acquire the Bangkok-based ultra-luxury resort and spa business of Six Senses Resorts & Spas for an undisclosed s
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 and operate them under a new company managed by Pegasus and its affiliates.
Bernhard Bohnenberger, the president of Six Senses, will be continuing in that role and heading the Six Senses Bangkok |office.
"Six Senses is known around the world for providing a unique and innovative guest experience," Craig Cogut, founder of Pegasus Capital Advisors, said yesterday.
Six Senses Resorts and Spas |has earned a global following, |providing award-winning guest experiences in some of the world’s most beautiful locations. With properties under management in Asia, the Middle East, the Americas and Europe, the name Six Senses is synonymous with |a unique style of luxury – authentic, relaxed and in tune with the surrounding environment, Cogut said.
"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. We are confident that our president Bernhard Bohnenberger and our strong management team will continue to build on its legacy as a recognised leader in luxury hospitality," he said.
The Soneva brand and resorts, as well as the company’s real-estate assets and holdings, are not included in the transaction. They will continue to be led by Sonu Shivdasani, the former founder and chief executive officer of Six Senses, who will serve as chairman and CEO and principal shareholder of The Soneva Group.
"This transaction will allow me to focus solely on the development of the Soneva portfolio of resorts and real estate assets, and allow the Soneva and Six Senses brands to flourish independently of each other," Shivdasani said.
"For myself and Eva, my wife, |this means we can devote all our energies to our first love – the development of the Sonevas. Soneva will continue to operate its philanthropic arm, The Slow Life Trust, and remain dedicated to achieving environmental goals and a corporate commitment to sustainability," he said.
The transaction is expected to close within three months.
The Soneva Group is a leading luxury-resort operator focused |on sustainable hospitality. It is made up of Soneva Fushi and Soneva Gili in Maldives and Soneva Kiri in Thailand. The Soneva Group also holds majority stakes in various resort assets in both countries.
