Farallon Capital to sell all ordinary shares held in Playa Hotels & Resorts

Affiliates of Farallon Capital Management LLC launched a secondary offering of the entire 8,352,553 ordinary shares they hold in Playa Hotels & Resorts NV.

Based on Playa Hotels' Nov. 8 closing stock price of $8.60 per share, gross proceeds from the offering are expected to be about $71.8 million.

The hotel company will not receive any proceeds from the offering by the selling shareholders.

BofA Securities is the underwriter for the offering.