June 5, 2018 / 6:19 PM / 2 months ago

China's HNA to sell 26.5 pct stake in Spain's NH Hotels to Thai Minor International

MADRID, June 5 (Reuters) - Chinese conglomerate HNA Group said on Tuesday it had agreed to sell a stake of 26.5 percent in Spain’s NH Hotels to Thai Minor International.

The Chinese firm said in a filing to Spain’s market regulator that it agreed to sell 17.64 percent of the hotel chain for 6.4 euros ($7.50) per share, subject to certain conditions.

If the first tranche is completed, it will then sell a further 8.83 percent of NH for 6.10 euros per share, implying Minor will buy the stake for a total of just over 622 million euros ($729 million). ($1 = 0.8531 euros) (Reporting by Isla Binnie; Editing by Adrian Croft)

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