JER Set to Acquire Jameson Inns .
ATLANTA, GA, May 22, 2006. Jameson Inns Inc., which owns or operates 119 hotels and inns in the Southeast and Midwest, agreed Monday to be acquired by JER Group, an arm of the J.E. Robert Companies, for $371 million.
J.E. Robert Companies is a real estate investment and asset management firm with $14 billion in assets.
"This transaction provides significant incremental shareholder value for Jameson Inns' shareholders," said Thomas Kitchin, chairman and CEO of Jameson Inns. "We believe that JER and its Atlanta-based affiliate, Longhouse Hospitality, which will operate the business after the merger, will provide our employees and brands with the experience and proven track record that will result in continued leadership, financial stability, quality and growth."
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