December 8, 2014 / 7:18 AM / 3 years ago

IHG agrees to sell Paris-Le Grand to Constellation

LONDON, Dec 8 (Reuters) - InterContinental Hotels Group , one of the world's largest hoteliers, said on Monday it had agreed to sell its Paris-Le Grand hotel for 330 million euros ($405 million) to Constellation Hotels.

IHG said it had accepted the offer from Constellation, which was announced in August, following a period of consultation with employees. The deal is expected to complete by the end of the first quarter of 2015, with the proceeds going towards general corporate purchases.

$1 = 0.8141 euros Reporting by Kate Holton; editing by James Davey

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