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...