Certain affiliates of Blackstone Group LP, Centerbridge Partners LP and Paulson & Co. Inc.commenced a secondary offering of 13.0 million paired shares of and ESHHospitality Inc.
Each paired share comprises a share of Extended Stay'scommon stock and a share of ESH Hospitality's class B common stock. Based onExtended Stay's Sept. 29 closing stock price of $14.53, the offering's grossproceeds are estimated to be roughly $188.9 million.
The company and its unit will not receive any proceeds fromthe offering.
Goldman Sachs & Co. is the underwriter for the offering.