Jin Jiang Completes Radisson Deal
Date: November 2018
Location: Global
Name: Radisson Hospitality Inc
No. of Keys: Around 80,000 – open and in the pipeline – 730 hotels.
Who: Jin Jiang has formally completed its acquisition of a majority of shares in Radisson Hospitality Inc and Radisson Hospitality AB.
The latter triggers a requirement to launch a takeover offer for RH AB, or sell down its stake, by 11 December 2018.
Jin Jiang’s acquisition was made in a consortium, including SINO-CEE Fund, and via Scandinavian associate Aplite Holdings AB. The vehicles each hold 50.21% of shares in the relevant Radisson companies.
SINO-CEE Fund is a private equity fund incorporated in Luxembourg.
Back in August 2018, Jin Jiang International Holdings Co., Ltd. led international consortium to acquire shares in Radisson Hospitality AB (publ) (“Radisson AB”). The purchase price under the agreements is SEK 35.00 per share.
The completion of the acquisition was subject to receipt of regulatory approvals and other customary closing conditions, these conditions have now been fulfilled.
Consequently, the Consortium’s joint acquisition vehicle, Aplite Holdings AB (the “Purchaser”), today completed the acquisition of 87,552,187 shares in Radisson AB from Radisson Hospitality Inc., corresponding to 50.21 percent of the shares and votes in Radisson AB.
The Purchaser and the Consortium have retained Baker & McKenzie Advokatbyrå KB as legal advisor.
THPT Comment: From one Chinese entity to another. The 51% sale in August was from China’s HNA.
First Seen: Cision