INTESA SANPAOLO FINALISES SALE OF AROUND 8.3% OF NH HOTEL GROUP SHARE CAPITAL TO TANGLA
Turin - Milan, November 12th 2014 – On November 11th 2014, in execution of the shares sale and purchase agreement signed on May 26th 2014 between Intesa Sanpaolo S.p.A. (“ISP”) (on one side) and HNA Group Co. Ltd. (“HNA”) and Tangla Spain S.L. Sociedad Unipersonal (“Tangla”), a special purpose vehicle entirely owned by HNA, (on the other side), which is further described in the press release issued on the same date, ISP sold no. 29,162,596 ordinary shares of NH Hotel Group S.A. (formerly NH Hoteles S.A. and hereinafter “NH”), representing approximately 8.3% of the latter’s share capital, to Tangla. The sale was priced at 4.55 euro per share for a total amount of approximately 133 million euro.
Following and as a consequence of the execution of the above-mentioned transaction, ISP retains, directly and indirectly, a stake constituting approximately 7.6% of NH’s share capital.
ISP’s consolidated net income has recorded a positive contribution of 14 million euro from the transaction.
Last updated 12 November 2014 at 11:46