The transaction, together with its existing shareholding, will increase MINT’s stake in NH Hotel Group to 8.6 per cent on a fully diluted basis. NH Hotel Group is the sixth-largest hotel chain in Europe and this investment offers important strategic benefits to MINT, which, with its deep hospitality and food and beverage experience, brings strategic value to the NH Hotel Group, the company said. MINT said the investment demonstrates the company’s strategy of pursuing financially attractive investments, which are accretive to MINT, with estimated EV/2018 EBITDA of 10.6 times. The investment in NH Hotel Group also marks a strategic progression given MINT’s current presence in Asia, Australia, the Middle East and Europe. “The investment in NH Hotel Group is a further move into Europe by MINT following its earlier expansion into Portugal and Brazil through the acquisition of Tivoli Hotels & Resorts in 2016, and one that is complementary to the geographical footprint of MINT’s pre-investment portfolio.”

Source: The Nation Bangkok May 23, 2018 13:27 UTC