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HNA Sends Open Letter to NH Hotel Group Shareholders Questioning Validity of Management Contract with Hesperia
HNA Group | December 13, 2016
MADRID-- HNA Group ("HNA") today issued the following letter to NH Hotel Group ("NH Hotel") (BME:NHH) shareholders: Dear Fellow Shareholders, HNA is deeply concerned about the contract that the NH Hotel Board of Directors, controlled by Oceanwood's Alfredo Fernandez, is entering into with Jose Antonio Castro, the owner of Hesperia. NH Hotel manages 28 hotels for Hesperia, many of which are badly in need of renovations that Hesperia cannot afford. For more than a year, NH Hotel's previous CEO Federico Gonzalez attempted to negotiate a management contract with Mr. Castro that would provide €24 million of capital for the req...
HNA Sends Letter to NH Hotel Shareholders
HNA Group | July 28, 2016
MADRID -- HNA Group ("HNA") today issued the following letter to NH Hotel Group ("NH Hotel") (BME:NHH) shareholders: Dear Fellow Shareholder, Hesperia and Oceanwood, combined holders of at least 21% of the outstanding share capital of NH Hotel, have seized full control of the NH Hotel Board of Directors and management team, and are acting in concert to advance their own interests against those of NH Hotel's minority public shareholders. Accordingly, HNA believes Hesperia and Oceanwood have formed a cabal and should be required to launch a tender offer to acquire all NH Hotel shares at the price mandated by relevant regulations...
