Hyatt Hotels Corp., owned by Chicago’s Pritzker family, has registered for its current shareholders to sell up to $1.15 billion of stock in an initial public offering, the Chicago Tribune reported. Goldman Sachs Capital Partners and Madrone Capital Partners, which is affiliated with Wal-Mart Stores chairman Rob Walton, each invested $500 million for an undisclosed equity-linked stake and a seat on Hyatt’s board, the Tribune article said. “The Pritzkers are in the middle of a decade-long process to split up the family’s assets among 11 adult cousins by 2011,” the Tribune reported. “The agreement, reached after intense internal feuding, calls for regular cash distributions to be made to each party. A trio of family members running the core empire on a day-to-day basis has been engaged in a delicate balancing act, to expand the family holdings while finding ways to divide the assets and raise cash for the distributions.” (Source: Chicago Tribune, Aug. 5, 2009.)
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