The Italian bank Intesa San Paolo announced the sale of some of its shares in the capital of the chain NH Hoteles, for 132.7 million euros, to the Chinese giant HNA and its subsidiary Tangla Spain.

The Chinese group HNA and its subsidiary Tangla Spain, raise their capital in the group NH Hoteles to close to 30% (29.5% voting rights), thanks to the takeover of nearly 20% of shares in the chain owned by the Italian bank Intesa San Paolo, in an agreement signed for 132.7 million euros. Intesa San Paolo maintains control over 7.6% of the capital of NH Hoteles.

The Spanish hotel chain operates in 28 countries in Africa, North and South America, and Europe, with around 400 hotels on these three continents.