Jin Jiang International and SINO-CEE Fund, through Aplite Holdings, completes the acquisition of 50.21 percent of the shares in Radisson Hospitality
On 9 August 2018, Jin Jiang International Holdings Co., Ltd. ("Jin Jiang") led international consortium, including SINO-CEE Fund (the "Consortium"), announced that the Consortium had entered into agreements with Radisson Hospitality Inc. and HNA Sweden Hospitality Management AB, an indirectly wholly-owned subsidiary of HNA Tourism Group Co., Ltd., respectively, to acquire shares in Radisson Hospitality AB (publ) ("Radisson AB"). The purchase price under the agreements is SEK 35.00 per share.
The completion of the acquisition was subject to receipt of regulatory approvals and other customary closing conditions, these conditions have now been fulfilled. Consequently, the Consortium's joint acquisition vehicle, Aplite Holdings AB (the "Purchaser"), today completed the acquisition of 87,552,187 shares in Radisson AB from Radisson Hospitality Inc., corresponding to 50.21 percent of the shares and votes in Radisson AB[1].
The Purchaser is now, in accordance with Chapter 3, Section 1 of the Swedish Public Takeover Act (Sw. lagen (2006:451) om offentliga uppköpserbjudanden på aktiemarknaden), under an obligation to either launch a mandatory tender offer for the remaining outstanding shares in Radisson AB or sell down its ownership in Radisson AB below 30 percent within four weeks from the completion of the acquisition, i.e. no later than 11th December 2018.
Advisors
The Purchaser and the Consortium have retained Baker & McKenzie Advokatbyrå KB as legal advisor.
This press release was submitted for publication on 13thNovember 2018 at 09.30 CET.
Information About Jin Jiang International
Headquartered in Shanghai, Jin Jiang International is a leading Chinese hospitality and travel group that develops and manages hotels in China and the rest of the world.
Information About SINO-CEE Fund
SINO-CEE Fund is a private equity fund incorporated in Luxembourg, the fund intends to achieve long term capital appreciation for its investors through equity, equity-linked and mezzanine investments in sectors including infrastructure, manufacturing and mass consumer.
Important information
This press release is not a public offer to acquire shares in Radisson Hospitality AB (publ). Anyone reaching or exceeding the mandatory bid threshold of 30 percent of the votes in a company whose shares are admitted to trading on a regulated market must under Chapter 3, Section 1 of the Swedish Public Takeover Act (Sw. lagen (2006:451) om offentliga uppköpserbjudanden på aktiemarknaden) disclose its shareholding in the company. This press release constitutes such a disclosure.
[1] Based on 174,388,857 shares in Radisson AB (including 2,532,556 shares held in treasury by Radisson AB).