The Board of Rezidor evaluates the offer from HNA Tourism Group

( HNA  Tourism Group Co, Ltd.  has announced a mandatory public offer  to the shareholders in Rezidor Hotel Group AB to acquire all  shares in Rezidor for a cash consideration of SEK 34.86  per share. HNA owns, directly  and indirectly, 51.3% of all outstanding shares in Rezidor following the  acquisition of Carlson Hotels Inc. HNA also owns a 25% stake in Hilton.

According  to HNA’s announcement it intends to make an offer document available around 2  February 2017, which will be distributed to the shareholders in Rezidor. HNA  has further informed that the offer period will start on 3 February 2017 and  end on 10 March 2017.

The  Board will now evaluate the Offer and obtain a fairness opinion. The Board will  no later than two weeks prior to the expiry of the acceptance period announce  its opinion of the Offer, including the reasons for its opinion.

Trudy  Rautio, Wendy Nelson and David Berg will not, due to conflict of interest  following the sale of Carlson Hotels Inc. to HNA, participate in the Board’s  processing of, or any other resolutions concerning, the Offer. The remaining  members of the Board, being Staffan Bohman, Anders Moberg, Charlotte Strömberg  and Göran Larsson, have for the purposes of the Offer appointed Staffan Bohman  as chairman.

The  Board has engaged SEB Corporate Finance as financial advisor and Gernandt &  Danielsson Advokatbyrå as legal advisor in relation to the Offer. The Board has  further appointed DNB Markets to provide a fairness opinion in relation to the  Offer.


Share Button
About the Author