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NH Hoteles SA Creates Joint Venture And Sells Its 20% Stake To HNA Group Through Its Share Capital Increase-DJ


Wednesday, 27 Feb 2013 06:39pm EST 

Dow Jones reported that NH Hoteles SA (NH) announced that it has agreed to sell a 20% stake in the Company to China's HNA Group (HNA) through a capital increase worth EUR 234 million (USD307 million), which will take place in middle of April 2013. The agreement with HNA also involves the creation of a joint venture that will allow NH's entry to the Chinese market. Through this purchase, HNA will become a shareholder of the Spanish company and will hold two board seats. The operation has already received the approval from Chinese regulatory authorities. 

Company Quote

3.87
-0.02 -0.51%
19 Dec 2014