September 4, 2018 / 12:14 PM / 9 months ago

Hesperia hires JP Morgan as adviser on NH Hoteles stake

MADRID, Sept 4 (Reuters) - Spanish hotel group Hesperia has hired JP Morgan as an adviser to review options for its 8 percent stake in domestic peer NH Hoteles, currently the target of a takeover offer from Thai firm Minor International, two sources familiar with the matter said.

The move from Hesperia, which has said the 6.3 euros per NH Hoteles shares offered by Minor was insufficient, comes as the Thai company nears full control of NH with 45 percent of its share capital.

The mandate given by Hesperia to JP Morgan includes various options ranging from putting together a competing bid, to striking a partnership with Minor or simply selling the stake, the sources said.

Hesperia and JP Morgan declined to comment. (Reporting by Andres Gonzalez, writing by Julien Toyer, editing by Isla Binnie)

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