Spain/Portugal: Competition authorities clear Minor hotel group takeover of rival NH

Spain’s National Commission of Markets and Competition (CNMC) and the competition authority of Portugal (Autoridade da Concorrência) have cleared the way for the merger operation in which, if necessary, Minor International hotel group may take over rival NH Hotel Group.

Both national entities have resolved to allow the concentration operation that, if successful, will be executed through the activation and liquidation of a takeover, “with the aforementioned authorizations not being subjected to any conditions…”

Minor already owns 29.82% of NH Hotel Group after executing the acquisition of 14 million shares in the hotel company, representing 3.57% of its share capital, previously held by British fund manager Oceanwood.

Full Content: La Vanguardia

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