NH Hoteles shareholder Ortega to sell 4% stake for EUR 50m
NH Hoteles shareholder Amancio Ortega is preparing to sell his 4.05% stake in the hotel chain to HNA of China, reported Expansion, citing market sources.
The deal would be worth EUR 49.55m at current market prices, the Spanish language report said, and is subject to approval from Chinese authorities.
HNA acquired 20% of NH Hoteles in April for EUR 234.5m, the item noted.
Ortega holds his stake in NH via his investment vehicle Pontegadea.
Source Expansion