MINOR INTERNATIONAL ACQUIRES 25.2% NH HOTELS STAKE FROM HNA GROUP
Following Thailand-based Minor International's purchase of a 9.5% stake in Spain's NH Hotels last month, Minor has announced that it is also acquiring HNA Group's 25.2% ownership stake in NH for €619 million. Minor has agreed to buy the first 17.6% of HNA's stake for €6.40 per share, and the remaining 7.6% for €6.10 per share, indicating a discount to NH's current stock price which closed at €6.55 on June 5th. M
inor, whose brands include Anantara, Avani and Tivoli, will also launch a public tender offer to acquire NH Hotels' remaining shares, targeting ownership of between 51-55% of the Spanish hotel company. The Bangkok-based conglomerate has also stated that it wants NH to remain a publicly traded company on the Madrid stock exchange.