Industry Update
Press Release 1 November 2018

Minor International Completes Tender Offer for NH Hotel Group

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Minor International

Thailand-based Minor International (MINT) has successfully completed its tender offer for shares in NH Hotel Group at a price of EUR 6.30 per share.

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A total of 187,289,383 shares of NH Hotel Group, representing 47.8% of its outstanding shares, were tendered in the tender offer.

Together with MINT's pre-offer shareholding, MINT has secured a 94.1% shareholding stake in NH Hotel Group, at a total investment amount of EUR 2,327 million.

Dillip Rajakarier (pictured), CEO of Minor Hotels, said, "The acquisition of NH Hotel Group is a true game-changer for both MINT and NH Hotel Group. We have complete confidence in the NH Hotel Group's business fundamentals and anticipate strong earnings results in 2018 and beyond, as management announced earlier this year. NH Hotel Group has a clear, proven track record of delivering strong and consistent EBITDA growth, underpinned by a strategic, high-value hotel real estate portfolio and deep relationships with asset owners and customers throughout Europe and Latin America. I am personally very excited to welcome the highly talented management team of NH Hotel Group and to work closely with them. Together, I am confident that we will succeed in bringing together our two great companies to create an even more exciting proposition for all stakeholders."

The acquisition of NH Hotel Group gives MINT a platform of 549 hotels across Asia, Australia, the Middle East, Africa, Europe, Latin America and the US.

"We are extremely pleased with the outcome of our tender offer," said William E. Heinecke, Founder and Chairman of MINT. "The acquisition of NH Hotel Group has transformed MINT into a truly global hospitality company, with a strong focus on exceeding the expectations of today's customers. The combined MINT-NH Hotel Group platform offers an extended product range across our combined brand portfolio with global geographical coverage. This, combined with the opportunities to leverage the respective strengths of MINT and NH Hotel Group to our mutual benefit, make it an extremely exciting time for our companies, our shareholders and our valued guests."

About Minor International

Minor International (MINT) is a global company focused on three core businesses: restaurants, hospitality and lifestyle brands distribution. MINT is one of Asia"s largest restaurant companies with over 2,000 outlets operating system-wide in 19 countries under The Pizza Company, Swensen"s, Sizzler, Dairy Queen, Burger King, Thai Express, The Coffee Club, BreadTalk (Thailand) and Riverside brands. MINT is also a hotel owner, operator and investor with a portfolio of 155 hotels and serviced suites under the Anantara, AVANI, Oaks, PER AQUUM, Tivoli, Elewana Collection, JW Marriott, Four Seasons, St. Regis, Radisson Blu and Minor International brands in 24 countries across Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe and South America. MINT is one of Thailand"s largest distributors of lifestyle brands focusing primarily on fashion, home and kitchenware and contract manufacturing. Its brands include Gap, Banana Republic, Brooks Brothers, Esprit, Bossini, Etam, Charles & Keith, Pedro, Radley, Anello, Zwilling J.A. Henckels, Joseph Joseph and ETL Learning. Bemynt is MINT"s e-commerce platform offering premium fashion and lifestyle products. For more information, please visit www.minorinternational.com. 

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