The Chinese group HNA Tourism Group Co, Ltd. (“HNA”) announced the successful completion of its purchase of Carlson Hotels Inc. from Carlson Hospitality Group, Inc. This transaction includes Carlson’s stake in Rezidor Hotel Group AB (“Rezidor”), representing 51.3% of outstanding shares.
Rezidor notes that HNA is now under an obligation to either launch a mandatory tender offer for the remaining outstanding shares in Rezidor or sell down its ownership in Rezidor below thirty percent within four weeks from the completion, i.e. no later than 4 January 2017. Rezidor has not been provided with any further information regarding HNA’s intentions.
