• Transaction / Assets
    Thai Minor International Acquires 8.6% Stake in NH Hotels
  • Seller
    Oceanwood
  • Buyer
    Minor International
  • € MM
    192

The Thai Group That Owns the Tivoli Chain Increases it Stake in NH Hoteles

24 May 2018

Minor International, the Thailand-based group that owns the Tivoli hotels in Portugal and Brazil, announced yesterday that it acquired 8.6% of the capital of the Spanish hotel group NH Hoteles, increasing its stake to 9.7% of the capital.

Minor International acquired the 8.6% stake from the British fund Oceanwood for 192 million euros. The Minor Group still has 12 months to negotiate the acquisition of the British fund’s remaining holdings (9.5%) in the Spanish hotel chain.

Minor has thus become NH’s second largest shareholder, after China’s HNA, which also has a position in TAP. HNA has granted a mandate to JPMorgan and Benedetto Gartland to find buyers for the 29.5% stake.

The Minor Group is now one of the leading players in the NH Group, which currently has 382 hotels and resorts, with a total of 59,350 rooms in 30 countries in Europe, America and Africa.

The Thai group Minor International operates in three main business areas: catering, hotels and the distribution of lifestyle brands. The company has a total of 161 hotels that are operated under the brands Anantara, AVANI, Oaks, Tivoli, Elewana, Marriott, Four Seasons, St. Regis, Radisson Blu, The Beaumont and Minor International in 26 countries in Asia Pacific, Africa, Indian Ocean, Europe and South America.

Original Story: Diário Imobiliário

Translation: Richard Turner