China’s HNA Buys 8.33 % of Spain’s NH Hotel Chain from Italy’s Intesa

Posted: November 12, 2014 in Econ 101

SOURCE: http://www.reuters.com/article/2014/11/11/hna-nhh-idUSL6N0T14FD20141111

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China’s HNA buys 8.33 pct of Spain’s NH Hoteles from Italy’s Intesa

MADRID Tue Nov 11, 2014

(Reuters) – The HNA Group, parent company of China’s airline Hainan Airlines, has bought 8.33 percent of Spain’s NH Hoteles from Intesa San Paolo , the Italian bank said in a statement to Spain’s stock market regulator on Tuesday.

HNA now has 29.5 percent of NH Hoteles. The shareholder agreement between Intesa and HNA has now ended, the Chinese group said in a separate statement. (Reporting By Elisabeth O’Leary, Editing by Sarah White)

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