Minor International Public Company Limited (SET: MINT), a leading hospitality, restaurant and lifestyle player with presence in 63 countries, has announced on Monday 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.”
Currently, 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, including The Pizza Company, Bonchon, Swensen’s, Sizzler, Dairy Queen, Burger King, etc.
