Hesperia Sheds 8% of NH to Preserve Refinancing

20/05/2014 – Expansion

Sudden break in the NH´s holding. Grupo Inversor Hesperia, the last former stakeholder of the chain, will reduce its share by up to 8% and become the third main after Chinese HNA and Intesa San Paolo.

The €107 million amount obtained from the sale of 24.66 million shares of the NH will be destined for fixing high indebtness of Hesperia, allowing the company to attempt the third refinancing agreement with lenders.

At the end of 2013, Hesperia´s liabilities reached a €485 million worth, out of which €225 million were borrowed for purchase of the NH´s shares, a great part from Santander (85%) but also from BBVA, Bankia and Popular.

The company is also planning sale of three hotels of its in hope of receiving around €180 million for them.

 

Original article: Expansión (by Yovanna Blanco)

Translation: AURA REE

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