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Minor International has struck a deal with Oceanwood Capital Management to acquire a 5.7 per cent shareholding in NH Hotel Group.
The move follows a similar deal between Minor and Tangla Spain in June, which saw Minor take an 8.4 per cent stake in the Spanish hotel company.
Combined, the deals will leave Minor with a 44 per cent shareholding
Both transactions are subject to the approval of Minor’s general shareholders meeting next month.
Minor maintains its long-term vision for NH which is intended to keep the company as a focused hotel-sector listed company in the Spanish Stock Exchanges, improve overall growth profile of the portfolio based on highly complementary geographies and brands, with limited overlap, and support the management team in executing the current strategic plans.
Minor International is a global company focused on three core businesses: restaurants, hospitality and lifestyle brands distribution.
NH Hotel Group is an urban hotel operator, listed on the Madrid Stock Exchange.
Today, the company operates 382 hotels and 59,350 rooms in 30 markets across Europe, the Americas and Africa, including top city destinations.
Source: breakingtravelnews.com