October 26, 2018 / 1:50 PM / 10 months ago

Minor hotel group secures 94 pct of Spain's NH Hotels

Oct 26 (Reuters) - Thailand’s Minor International has won acceptances for 47.76 percent of NH Hotels Group , Spain’s regulator said on Friday, bringing its total stake to 94.14 percent.

Before Minor launched its takeover bid in October, Catalan hotel group Hesperia said it would take part by selling its own 8.14 pct stake to Minor, guaranteeing the success of the offer.

The Thai-based hotel operator had said it aimed to buy 51-55 percent of NH Hotels.

“In case of exceeding this threshold, Minor would study different alternatives, including retaining a higher participation in NH or looking for a financial partner,” the Thai group said at a presentation of its offer.

In the long term, Minor wants to keep NH as a Madrid-listed company while merging the hotel group’s brand with its own across new regions.

NH Hotels has some 380 hotels, mostly in Europe and Latin America, while Minor has 161 hotels concentrated in Asia, the Middle East, Africa and Australia.

Shares of NH Hotel traded down 10 percent on Friday at 5.6 euros ($6.4), below Minor’s bid price of 6.30 euros.

$1 = 0.8809 euros Reporting by Katarzyna Zajaczkowska; Editing by Paul Day and Elaine Hardcastle

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