Monday, October 24, 2011

Spain’s NH Hoteles drops price of China’s HNA stake - 17 October 2011

Spanish hotel chain NH Hoteles has revised downward the price of the 20% stake it is selling to China’s HNA Group to better reflect the current share price, which has dropped nearly 50% since January.


The deal, originally announced in May, will now see the Chinese group pay €330m for the stake, compared to the €432m originally offered - based on €5.35 per share against €7, which still represents a 64% premium on NH’s current share price of €3.26.

The firm said in a statement it will carry out a capital increase, issuing 60m shares at a price of €5.35, and making HNA the second-largest stakeholder after Hesperia, with 24%. This will be carried out before 15 December, providing NH with a much-needed injection of liquidity and allowing it to reduce its debt to €787m from the present €1.1bn. Much of this matures in 2012. The announcement of the new terms led to a 19% rise in the share price to €3.88 Monday.

The deal foresees the opening of two or three NH-brand hotels in China in 2012, with the Spanish chain keen to open “dozens” of hotels in a high-growth hospitality market over the coming years. HNA, the parent company of Hainan Airlines, operates 50 hotels in China, some of which will be rebranded as NH, within the four-star urban hotel market. 

NH currently has 395 hotels in half a dozen European countries, as well as in North and South America, and 60,000 hotel rooms in Spain. Having put the brakes on expansion plans due to the crisis-induced drop in tourism, the firm has sold 13 hotels and other assets for €344m during the last two years. pie



http://www.pie-mag.com/articles/1978/spain-s-nh-hoteles-drops-price-of-china-s-hna-stake/

Celebración del “FIRST CHINA-SPAIN INNOVATION PARTNERSHIP DEVELOPMENT FORUM”, los días 25 y 26 de Octubre de 2011, en China.


Celebración del “FIRST CHINA-SPAIN INNOVATION 

PARTNERSHIP DEVELOPMENT FORUM”, los días 25 

y 26 de Octubre de 2011, en China.

Acciones Internacionales de Promoción Tecnológica
La inauguración del Foro tendrá lugar en Beijing, el día 25 de
 Octubre. El programa incluye ponencias tecnológicas
sectoriales, encuentros B2B con potenciales socios chinos,
 así como visitas a parques tecnológicos de diferentes 
regiones, y empresas punteras instaladas en ellos.
Los sectores seleccionados para el encuentros son:

  • Alimentación y Salud,
  • Biotecnología y
  • Máquina Herramienta.

La solicitud de participación en este evento se realizará
 mediante el instrumento “Acciones internacionales de
promoción  tecnológica” (AIPT), a través de la aplicación CDTI.


http://www.cdti.es/index.asp?MP=9&MS=31&MN=2&TR=A&IDR=7&id=447