Thailand's Minor to buy stake in Europe hotel chain from China's HNA - nikkei.com
Company aims to raise its interest in NH Hotel to more than 50%
Minor International will buy European hotel operator NH Hotel Group in a deal set to more than triple the Thai company's hotel network to around 540 locations.
Minor International will buy European hotel operator NH Hotel Group in a deal set to more than triple the Thai company's hotel network to around 540 locations.
Minor said Wednesday it will acquire roughly 25% of NH Hotel's outstanding shares by September from Chinese conglomerate HNA. This will raise Minor's stake in the Spain-based group to 34.7% from 9%, replacing HNA as the top shareholder.
Minor will then launch a tender offer to boost the stake further to between 51% and 55% by the start of 2019. NH Hotel is expected to remain listed on the Madrid Stock Exchange.