Acquisition of shares in Radisson Hospitality AB completed
Radisson Hospitality AB (publ) (the "Company") notes today's announcement by a consortium led by Jin Jiang International Holdings Co., Ltd., including SINO-CEE Fund (the "Consortium"), that the Consortium, through Aplite Holdings AB, has completed the previously announced acquisition of shares in the Company. Following completion, the Consortium now holds 50.21 percent of the shares and votes in the Company [1].
Through the acquisition, the Consortium has reached a shareholding in the Company that exceeds the mandatory bid threshold under the Swedish Takeover Act.
Accordingly, the Consortium is obliged to, within four weeks from today, make a mandatory public offer for the remaining shares in the Company or sell shares such that the Consortium's ownership in the Company falls below 30 per cent of the votes in the Company.
The Board of Directors of the Company has within itself appointed an independent committee, consisting of all board members save for the board members that are not independent in relation to HNA Tourism Group Co., Ltd., to handle matters in connection with the above transaction and a possible mandatory public offer. The independent committee hence consists of board members Andreas Schmid (chair), Lo Kin Ching, Wolfgang M. Neumann, Thomas Staehelin, Göran Larsson and Ulf Petersson.
The Consortium's press release is available here: http://news.cision.com/jin-jiang-international--holding--co--ltd/r/jin-jiang-international-and-sino-cee-fund--through-aplite-holdings--completes-the-acquisition-of-50-,c2670624. Additional information regarding the transaction is also available in the press release issued by the Company on 9 August 2018.
About Radisson Hotel Group
Radisson Hotel Group is one of the world's largest hotel groups with nine distinctive hotel brands, and more than 1,600 hotels in operation and under development in 120 countries. The Group's overarching brand promise is Every Moment Matters with a signature Yes I Can! service ethos.
The Radisson Hotel Group portfolio includes Radisson Collection, Radisson Blu, Radisson, Radisson RED, Radisson Individuals, Park Plaza, Park Inn by Radisson, Country Inn & Suites by Radisson, and prizeotel brought together under one commercial umbrella brand Radisson Hotels.
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The health and safety of guests and team members remain a top priority for Radisson Hotel Group. All properties across the Group's portfolio are subject to stringent health and safety requirements, as outlined in the Radisson Hotels Safety Protocol.
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