NH Hotel to accept binding bids for HNA 26% stake until 31 May; prefers financial investor - report (translated)
28 MAY 2018
NH Hotel [BME: NHH] will accept binding offers for the 26% stake put up for sale by the Chinese company HNA until Thursday, 31 May, Cinco Dias reported, citing financial sources. The stake is valued at about EUR 600m, according to the Spanish-language report.
NH prefers a financial investor, the report said citing financial sources.
Last week, it was widely reported that Minor International [BKK:MINT], a Thailand-based hospitality group that held a 1.1% stake in NH, has agreed to acquire the 8.6% stake held by the fund Oceanwood. Its stake will be, however, diluted to about 8.6% following the conversion of bonds issued in 2013, according to the report. The deal gives Minor exclusive rights to acquire the remaining Oceanwood stake - it holds 13% - in the next 12 months.