(Reuters) – Thai tourism group Minor International has offered to buy out minority shareholders of Spain’s Minor Hotels Europe & Americas, the Spanish company said late on Friday.
The Thai group, which already owns 95.9% of MHEA shares, offered to pay 6.37 euros ($6.70) per share for the stake it does not own, with an aim to delist Minor Hotels, which was previously known as NH Hotels, the company said in a filing to the Spanish stock market regulator.
The price represents a 38% premium over MHEA’s closing price on Friday. Minor Hotels’ market value was 2.02 billion euros on Friday.
Minor took over the Spanish group in 2018, paying 6.30 euros per share.
($1 = 0.9508 euros)
(Reporting by Joanna Jonczyk-Gwizdala, editing by Inti Landauro and Emelia Sithole-Matarise)
