The board of directors of the Italian group Intesa Sanpaolo has approved HNA’s bid to raise its stake in the capital of the Spanish hotel chain to 29.5%.
An agreement allowing the Chinese group HNA to takeover some of the shares in NH Hoteles owned by the bank Intesa Sanpaolo (read article) has been now finalized by the Italian group. In fact, the board of directors at Intesa validated the buyout for an estimated 132.6 million euros.
The group HNA will become owner of 29.5% of the shares in the Spanish hotel chain, after approval of the purchase at the general meeting of NH Hoteles shareholers and agreement from the competent authorities for the HNA group in China.
The group HNA will become owner of 29.5% of the shares in the Spanish hotel chain, after approval of the purchase at the general meeting of NH Hoteles shareholers and agreement from the competent authorities for the HNA group in China.
Also on the subject:
- NH Hotel Group reduce its losses on 1st semestre 2014 by 0.8%
- Foncière des Régions acquires the NH Hotel Amsterdam Center
- Interview with Federico Gonzalez Tejera, CEO at NH Hotel Group
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