Source - SMW
PPHE Hotel Group has agreed to buy out the 55% interest in joint venture company Aspirations that it doesn't already own for £35m.

Aspirations owns a site located by Old Street, Rivington Street, Great Eastern Street and Bath Place in London on which it plans to develop art'otel london hoxton.  

The company initially entered into this joint venture in 2008 by investing £11.0m for its fifty percent interest.

At 9:24am: (LON:PPH) PPHE Hotel Group share price was +5p at 1115p