Hyatt has indicated its interest in acquiring NH Hotel Group, as the latter mulls an offer from Thailand’s Minor International, an existing shareholder, Bloomberg reports.
After increasing its shareholding in NH Hotel Group in June this year, Minor International has entered a Share Purchase Agreement for 22,496,064 additional shares, representing 5.7 per cent shareholding, subject to the approval of Minor’s shareholders at the EGM on August 9.
If approved, the purchase would give Minor International control of 172,379,103 shares, amounting to 44 per cent shareholding.
Bloomberg reports that NH Hotel Group now has an additional option to Minor International, after Hyatt sent a letter of intent expressing its interest in acquiring the Spanish hotel operator.
