MINT Proposes Delisting of Minor Hotels Europe & Americas Shares Through Tender Offer
Minor International Public Company Limited (MINT), the parent company of Minor Hotels, announces that on 13 December 2024 the Board of Directors of Minor Hotels Europe & Americas ("MHEA", formerly NH Hotel Group) issued a positive report in respect of an offer made by MHG Continental Holding (Singapore) (“MHG”), a wholly-owned subsidiary of MINT, to delist the shares of MHEA by way of a tender offer.
MHG currently holds a 95.9% interest in MHEA. Following such positive Board report, the proposal will be submitted for shareholder consideration at an Extraordinary General Meeting of MHEA’s shareholders ("EGM"), which is expected to be held on or around 20 January 2025.
MHG’s delisting offer proposal is priced at EUR 6.37 per share, which price is supported by an independent valuation. The proposal has been made in compliance with relevant Spanish regulations and the de-listing tender offer is required to be approved by the Spanish securities regulator (the CNMV) before it can be formally extended to shareholders.
The proposal aims to provide MHEA minority shareholders an attractive exit opportunity while offering enhanced asset and capital management flexibility to MINT. As such, this move is designed to benefit both MINT’s and MHEA’s shareholders.