Morgans Hotel Group to Acquire Leading Lifestyle Food and Beverage Company - The Light Group
Morgans Hotel Group Co. (NASDAQ: MHGC), today announced that it has entered into a definitive agreement to purchase a 90% controlling interest in The Light Group, a leading lifestyle food and beverage company currently operating numerous venues for MGM Resorts International ("MGM"). This acquisition, while being immediately accretive to the Company's earnings, also provides Morgans with a first class food and beverage platform, a creative and experienced management team, and renowned brand names.
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