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Oceanwood Becomes NH Hoteles’ 2nd Largest Shareholder

29 April 2016 – Expansión

The British fund manager Oceanwood Capital Management has strengthened its shareholding in NH Hoteles to obtain a 10% stake in the hotel chain, whereby overtaking the second largest shareholder, Hesperia, which holds a 9.1% stake. Oceanwood has informed the market that it owns 10% of the share capital, split between shares (8.746%) and financial instruments (1.254%), compared with the 7.58% stake that it held before. According to the latest data from the CNMV, the group has 350 million voting rights, which are worth more than €1,510 million, at market prices.

In addition, the co-Chairman of NH Hoteles, José Antonio Castro, the Chairman of Grupo Inversor Hesperia, has reported the purchase of 130,000 indirect shares with a unitary value of €3.60, which represents a total price of €468,000. Castro acquired these shares at a 20% discount with respect to yesterday’s closing price.

Of the twelve members that currently sit on the Board of Directors of NH Hoteles, besides the CEO, who serves as an Executive Director, there are four representatives from HNA, two from Hesperia, one from Oceanwood and four independent directors. Moreover, at its next general shareholders’ meeting, NH Hoteles will propose the appointment of Taisa Markus as an Independent Director, and so the Group’s Board will once again comprise 13 members.

HNA continues growing

Meanwhile, the main shareholder of NH Hoteles, the Chinese group HNA Group, with a 29.5% stake, has agreed to buy the hotel business of Carlson Rezidor, the thirteenth largest hotel chain in the world by size, according to the Hotels ranking and the owner of brands such as Radisson, Park Inn and Park Plaza.

Original story: Expansión (by Rebeca Arroyo)

Translation: Carmel Drake