Minor International : MINT TO ACQUIRE SHARES OF NH HOTEL GROUP ON MADRID EXCHANGE FOR 30-DAY PERIOD
May 08, 2023 at 03:21 am EDT
Share
PRESS RELEASE - 8 May 2023
FOR IMMEDIATE RELEASE
MINT TO ACQUIRE SHARES OF NH HOTEL GROUP
ON MADRID EXCHANGE FOR 30-DAY PERIOD
Minor International Public Company Limited ("MINT"), a leading hospitality, restaurant and lifestyle player with presence in 63 countries, has announced its intention to acquire shares of NH Hotel Group ("NH") on the Madrid Stock Exchange for a period of thirty (30) days. The move comes as part of MINT's long-term strategy to create positive impact to its shareholders, while contributing to increasing liquidity of NH shares in the market during the purchase period.
MINT already owns 94% of outstanding shares in NH and has decided to purchase additional shares on the market at a price no higher than EUR 4.50 per share for a period of thirty (30) days. MINT has no current intention to purchase further NH shares on the market thereafter.
"Our decision to acquire additional shares reflects our confidence in NH's ability to continue generating synergistic value going forward." said Mr. Dillip Rajakarier, Group CEO of MINT. "NH has a reputation for excellence in outstanding assets, strong branding and an experienced management team. It has also demonstrated a track record of solid financial performance pre- and post- pandemic, with proven recovery of existing business and a pipeline of hotel openings in new markets over the next few years. We believe that NH has tremendous potential to drive further growth, especially when combining the strengths of NH and the rest of MINT."
About Minor International: Minor International (MINT) is a global company focused on three core businesses: hospitality, restaurants and lifestyle brands distribution. MINT is a hotel owner, operator and investor with a portfolio of over 530 hotels under the Anantara, Avani, Oaks, Tivoli, NH Collection, NH, nhow, Elewana, Marriott, Four Seasons, St. Regis and Radisson Blu brands in 56 countries across Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe, South and North America. MINT is also one of Asia's largest restaurant companies with over 2,500 outlets system-wide in 24 countries under The Pizza Company, The Coffee Club, Riverside, Benihana, Thai Express, Bonchon, Swensen's, Sizzler, Dairy Queen, Burger King, Coffee Journey and GAGA brands, in addition to over 1,000 outlets of MINT's strategic alliances (i.e. S&P and BreadTalk). MINT is one of Thailand's largest distributors of lifestyle brands and contract manufacturers. Its brands include Anello, BergHOFF, Bossini, Charles & Keith, Joseph Joseph, Zwilling J.A. Henckels and Minor Smart Kids. For more information, please visit www.minor.com.
Minor International pcl published this content on 08 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 May 2023 07:20:02 UTC.
Minor International Public Company Limited is a Thailand-based company engaged in the investment activities, hotels, restaurant operations, and distribution and manufacturing. The Company operates through four segments: Hotel, Mixed use, Restaurant and Retail. The Company operates hotels, resorts and serviced suites with a portfolio of over 530 hotels under the Anantara, AVANI, Oaks, Tivoli, Elewana, NH Collection, NH, nhow, Marriott, Four Seasons, St. Regis, Radisson Blu and Minor International brands. Its hotel and spa portfolio spans across 56 countries in Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe and the Americas. The Company operates mixed-use business, including shopping plazas and entertainment, residential properties, and a points-based vacation club. It offers fashion and lifestyle products under various brands, including Anello, BergHOFF, Bossini, Charles & Keith, Joseph Joseph, Zwilling J.A. and Minor Smart Kids.