NH Hotel 29.5% shareholder HNA attracts Hyatt, Lone Star interest - report (translated)
11 APR 2018
NH Hotel Group’s [BME: NHH] shareholder HNA could attract an offer for its 29.5% in the Spain-based hotel operator from the Illinois-based chain Hyatt Hotels Corporation [NYSE: H] in alliance with the PE firm Lone Star, Expansionreported, citing market sources. The two have contacted Credit Suisse to advise on the transaction, the Spanish-language paper said.
HNA’s 29.5% stake of NH is valued at EUR 660m at market prices, according to the report. Starwood Capital andBlackstone [NYSE: BX], have also expressed an interest in the transaction, the report said.
HNA’s NH shares are pledged, which may delay the process, Expansion went on to say. According to financial sources, cited by the paper, the group is negotiating with its creditor - the Chinese bank The Export-Import Bank - to cancel the pledge and proceed with the sale.
In January, HNA appointed JPMorgan to sell the stake