Minor International acquires 25.2% NH Hotels stake from HNA Group 

Following Thailand-based Minor International’s purchase of a 9.5% stake in Spain’s NH Hotels last month, Minor has announced that it is also acquiring HNA Group’s 25.2% ownership stake in NH for €619 million. Minor has agreed to buy the first 17.6% of HNA’s stake for €6.40 per share, and the remaining 7.6% for €6.10 per share, indicating a discount to NH’s current stock price which closed at €6.55 on June 5^th.
Minor, whose brands include Anantara, Avani and Tivoli, will also launch a public tender offer to acquire NH Hotels’ remaining shares, targeting ownership of between 51-55% of the Spanish hotel company. The Bangkok-based conglomerate has also stated that it wants NH to remain a publicly traded company on the Madrid stock exchange.

M&G acquires two hotel developments in Edinburgh 

M&G Real Estate acquired the four-acre The Haymarket mixed-use development in Edinburgh, including a 190-room hotel and a 172-room aparthotel, from a joint venture between Interserve and Tiger Developments. The site has a gross development value of £280 million, with M&G acquiring the site for £49 million. 

Hotel Carlyle Brera, Milan sold to Boissée Finances for €36 million 

Brera Hotels sold the 97-room Hotel Carlyle Brera to French hotel fund Boissée Finances for a reported €36 million (€371,000 per key). Located in the Porta Nuova business district of Milan, the hotel is currently unbranded and is Boissée Finances‘ second acquisition in Italy.

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