UBS reached 5,4% of NH after having invested 66 million Euros

23/01/2014 – Expansión

The identity of the investors that have substituted for Bankia in the capital of NH hotels is getting revealed.UBS took advantage of the divestment of the last of the old Saving Banks still in the chain to obtain 13,49 million of shares that increased its shares to 5,44%. The Swiss bank, which already had 3,3 millions in shares, has paid 4,94 Euros per share that elevated the investment to more than 66 million Euros. The percentage that UBS has acquired represents one third of Bankia’s participation that obtained 64 million for its 12,6%.

Funds and private equity firms

According to sources of this sector, the rest of the shares could be acquired by consultant agencies and funds, the new profile of investor that renovated the shareholding of the group chaired by Rodrigo Echenique.

2013 was a year with significant novelties in NH´s capital. On the one hand, because of the entry of the Chinese conglomerate HNA, that paid 234,5 million for a 20% and later bought from Amancio Ortega (owner of Inditex) 4% of the company. On the other hand, because of the competition in divesting of the old Saving bankings (BMN, NCG, Kutxabank, Bankia) taking advantage of the company’s upward rally that facilitated the entry of international investors such as BlackRock,THS and Fidelity.

 From the historic shareholders of NH, only Hesperia (20%) and Intensa Sanpaolo (4,5%) remain in the capital.