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Thu, 1 Nov 2018

Minor International Completes Tender Offer for NH Hotel Group

Thailand-based Minor International (MINT) has successfully completed its tender offer for shares in NH Hotel Group at a price of EUR 6.30 per share.

A total of 187,289,383 shares of NH Hotel Group, representing 47.8% of its outstanding shares, were tendered in the tender offer.

Together with MINT’s pre-offer shareholding, MINT has secured a 94.1% shareholding stake in NH Hotel Group, at a total investment amount of EUR 2,327 million.

Dilip Rajakarier. Picture by Steven Howard of TravelNewsAsia.com Click to enlarge.

Dillip Rajakarier (pictured), CEO of Minor Hotels, said, “The acquisition of NH Hotel Group is a true game-changer for both MINT and NH Hotel Group. We have complete confidence in the NH Hotel Group’s business fundamentals and anticipate strong earnings results in 2018 and beyond, as management announced earlier this year. NH Hotel Group has a clear, proven track record of delivering strong and consistent EBITDA growth, underpinned by a strategic, high-value hotel real estate portfolio and deep relationships with asset owners and customers throughout Europe and Latin America. I am personally very excited to welcome the highly talented management team of NH Hotel Group and to work closely with them. Together, I am confident that we will succeed in bringing together our two great companies to create an even more exciting proposition for all stakeholders.”

The acquisition of NH Hotel Group gives MINT a platform of 549 hotels across Asia, Australia, the Middle East, Africa, Europe, Latin America and the US. 

“We are extremely pleased with the outcome of our tender offer,” said William E. Heinecke, Founder and Chairman of MINT. “The acquisition of NH Hotel Group has transformed MINT into a truly global hospitality company, with a strong focus on exceeding the expectations of today’s customers. The combined MINT-NH Hotel Group platform offers an extended product range across our combined brand portfolio with global geographical coverage. This, combined with the opportunities to leverage the respective strengths of MINT and NH Hotel Group to our mutual benefit, make it an extremely exciting time for our companies, our shareholders and our valued guests.”

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