Rezidor Hotel Group AB (REZT.ST)
19 Jan 2018
MADRID China's HNA [HNAIRC.UL] said on Friday it had hired banks to look for buyers of its majority stake in Spain's NH Hotel Group , just days after NH turned down a takeover offer from Spanish peer Barcelo.
MADRID, Jan 19 China's HNA said on Friday it had hired banks to look for buyers of its majority stake in Spain's NH Hotel Group, just days after NH turned down a takeover offer from Spanish peer Barcelo.
* REG-THE REZIDOR HOTEL GROUP ANNOUNCES ITS 5-YEAR OPERATING PLAN AT THE INVESTORS DAY
* SAYS HNA TOURISM GROUP CURRENTLY OWNS 119,567,553 SHARES, CORRESPONDING TO 70.4 PER CENT OF SHARES IN REZIDOR
Grupo Barcelo has made a tentative takeover approach for rival NH Hotel Group to create the biggest hotel operator in Spain, where tourism is booming.
* Approval of Chinese shareholder HNA seen as key (Updates with share price reaction)
* HNA settles its mandatory tender offer to the shareholders of Rezidor Source text for Eikon: Further company coverage:
* China has cracked down on capital outflows for overseas deals (Adds details of deals, hurdles facing HNA)
HONG KONG, Aug 1 At least two of HNA Group's overseas deals have hit hurdles as the conglomerate struggles to take money out of China, amid a crackdown by Beijing on capital outflows to fund acquisitions it sees as risky, four people familiar with the process said.
* Q2 EBITDA amounted to MEUR 28.4 (36.4) and ebitda margin decreased to 11.2% (14.0)