External Article22 January 2018
China’s HNA [HNAIRC.UL] said on Friday it had hired banks to look for buyers of its majority stake in Spain’s NH Hotel Group (NHH.MC), just days after NH turned down a takeover offer from Spanish peer Barcelo.
The announcement also came a day after Reuters reported that the U.S. government would not approve any HNA investments in the United States until the Chinese aviation-to-property conglomerate provides adequate information on who its shareholders are.
HNA said it had hired JP Morgan and Benedetto, Gartland and Company to look for possible buyers of its 29.5 percent stake in Spain’s NH Hotel Group (NHH.MC). The stake is valued at around 632 million euros at current prices.
Hospitality Net Editorial