NH Hotels and Hispania takeover bids may be concluded in the summer

NH Hotels and Hispania takeover bids may be concluded in the summer

On the Hispania side, everything points to accepting Blackstone's proposal. The same is not so certain regarding the offer for the bonds of the chain, having here several options to consider, according to the Spanish Real Estate. Hispania recently qualified the offer as "hostile", but recommends it today to its shareholders, considering that the proposal is more attractive, now that it is 4.5% higher than initially proposed, for a total of €18.25 per share.

In the case of NH Hotels, the Minor Group expects to have the necessary bureaucracy to close the bid until July 12, although NH Hotels' board of directors has already pointed out that the offer of €6.4 per share "does not seem to satisfy the value" of the company "nor is a better alternative to the strategic plan" of the same, mentions the same source. Banks Bankinter and Santander, hired to advise and plan a better offer, consider that the company should not accept the offer, since "it does not incorporate a control premium", placing the value around €6.37. The Banks also consider assets to be underrated.

Iberian Property logo Iberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!