Minor to Buy More Shares in Spain’s NH Hotel Group

Capital Management Limited (Oceanwood Capital) and Minor International (MINT) have entered into a Share Purchase Agreement of 22,496,064 shares representing a 5.7% shareholding in Spain’s NH Hotel Group.

The deal is subject to the approval of MINT’s General Shareholders in a meeting to be held on 9 August 2018.

As a result of this transaction and the agreement to acquire from Tangla Spain SLU 32,937,996 NH Hotel Group shares representing an 8.4% shareholding in NH Hotel group, as announced on 5 June 2018, which is subject to the same condition, MINT would control 172,379,103 shares in NH Hotel Group, representing a 44.0% shareholding.

Following broad support from MINT's key long-term shareholders on the contemplated transactions, including Mr. William E. Heinecke and the entire MINT's Board of Directors, MINT will hold an extraordinary general meeting (EGM) on 9 August 2018 for the approval of the tender offer and the 8.4% NH Hotel Group stake from Tangla Spain SLU.

The tender offer has also received full financing support from MINT's financial institutions.

As stated in the Relevant Fact submitted on 20 July 2018 to the CNMV, both the Spanish and Portuguese Antitrust Authorities (Comisión Nacional de los Mercados y la Competencia and Autoridade da Concorrência, respectively) approved the proposed acquisition of NH Hotel Group by MINT, thus fulfilling one of the two conditions to the offer included in the MINT Bid Offer.

MINT’s offer was admitted for processing on 19 July 2018 (Admisión a Trámite) by the CNMV, following the ordinary proceeding.

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