Tuesday, October 25, 2016

The chinese group of TAP purchase 25% of Hilton hotels – the Observer

The chinese group HNA, a shareholder of TAP by the consortium’s Atlantic Gateway and of the brazilian company Azul, announced on Tuesday, in a press release, that reached has reached an agreement to buy 25% stake in the hotel chain’s north american Hilton.

The deal, which will be implemented in the first quarter of next year, provides for the payment of the 6,500 million of dollars (us $ 5.975 million euros) to the fund Blackstone, which reduces its participation in the capital of the Hilton for 21%.

THE HNA will pay 26,25 u.s. dollars (24.1 euros) for each share of the hotel chain, in an amount 15% higher than its current price.

In a statement, the chinese group considered the deal a "strategic investment", aiming also to the companies that the american group you want to create: Park Hotels&Resorts and Hilton Grand Vacations.

THE HNA will be left with 25% of the share capital of each of the companies.

The agreement stipulates that the chinese group – that operates in the areas of tourism, aviation, real estate and logistics – has the right to appoint two of the ten members of the board of directors of the Hilton.

Blackstone will maintain the two members in the board of directors, including its current president, Jon Gray.

The chinese company HNA owns indirectly approximately 20% of the share capital of TAP, through a participation of 13% in the Blue (the company’s brazilian David Neelman that integrates the Atlantic Gateway), and a participation of 7% in the Atlantic Gateway.

last February, the HNA bought the distributor of the technology in the north american Ingram Micro, for 6,000 million dollars (5,3 billion euros), and agreed to pay 1.3 billion euros by Gategroup, the second largest company of 'catering' of aircraft in the world.


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