Spain suspends trading in NH Hoteles, Thai parent offers to buy shares (updated)

Minor Hotels Europe & Americas SA

08/05/2023 12:22

(Adds Minor's offer to buy outstanding NH shares)
       MADRID/BANGKOK, May 8 (Reuters) - Spanish stock market
regulator CNMV on Monday suspended the trading of shares in NH
Hotel Group SA  NHH.MC  pending information from the company,
just as its Thailand-based parent company offered to buy NH
stocks in the market.
        The regulator said the suspension was a "precautionary
measure" taken "while relevant information on the aforementioned
entity is disseminated".
  
        Minor International  MINT.BK , which already owns a 94%
stake in NH, said in a separate statement issued after the
CNMV's announcement it would buy outstanding shares on the
Madrid stock exchange for a 30-day period at a price no higher
than 4.50 euros ($4.97) per share.    
  
    Earlier on Monday, NH published its first-quarter results
but did not mention Minor's offer. The group's net recurring
loss halved to 40 million euros from a year ago as it expected
demand to remain strong in coming months. 
    The company did not immediately respond to a request for
comment. Its shares rose about 1% to 3.625 euros on Friday.

($1 = 0.9051 euros)

 (Reporting by David Latona and Corina Pons in Madrid and Chayut
Setboonsarng in Bangkok; Editing by Andrei Khalip)
 ((david.latona@thomsonreuters.com; +34 918 35 68 13;))