Jin Jiang led consortium enters into agreements to acquire shares in Radisson Hospitality AB and a subsequent acquisition of Radisson Holdings

Jin Jiang International Holdings Co., Ltd. (“Jin Jiang International”) led international consortium, (the “Purchaser”) has today entered into an agreement with Radisson Hospitality Inc. (“Radisson Hospitality”) to acquire 51.15 per cent of the outstanding shares and votes in Radisson Hospitality AB (publ) (“Radisson AB”), listed on Nasdaq Stockholm, and an agreement with HNA Sweden Hospitality Management AB (“HNA Sweden”), an indirectly wholly-owned subsidiary of HNA Tourism Group Co., Ltd. (“HNA Tourism”), to acquire up to an additional 18.50 per cent of the shares and votes in Radisson AB. The Purchaser also entered into an agreement with HNA Hotel Group (Hong Kong) Co., Ltd. (“HNA Hotel HK”) and HNA Sweden, indirectly wholly-owned subsidiaries of HNA Tourism, to acquire all shares in Radisson Holdings Inc. (“Radisson Holdings”) following the closing of the sale of the shares in Radisson AB.

The transaction

Under the agreement regulating the sale of the shares in Radisson AB, the Purchaser will acquire 51.15 per cent of Radisson AB from the Radisson Hospitality (the “Transaction”). The price per share in the Transaction is SEK 35. The Transaction is subject to receipt of regulatory approvals and other customary closing conditions, and is expected to close by the end of 2018.

Under the agreement with HNA Sweden, the Purchaser intends, in addition to the shares acquired in the Transaction, to acquire up to 18.50 per cent of the outstanding shares and votes in Radisson AB that HNA Sweden previously has pledged and transferred to a lender as security pursuant to a loan and pledge agreement.

Under the agreement regulating the sale of Radisson Holdings, following the closing of the Transaction, the Purchaser will acquire all 100 per cent of the shares of Radisson Holdings from HNA Hotel HK and HNA Sweden. The transaction is subject to regulatory approvals and other customary closing conditions, and is expected to close by the end of 2018.

J.P. Morgan Securities (Asia Pacific) Limited acted as exclusive financial advisor to a wholly-owned subsidiary of HNA Group Co., Ltd. on the transaction.

Mandatory public tender offer

Provided that closing of the Transaction occurs, under Swedish takeover rules, the Purchaser will be imposed with an obligation to launch a mandatory public tender offer for the remaining outstanding shares in Radisson AB, within four weeks after the closing of the Transaction, unless the ownership in Radisson AB is sold down below 30 per cent. The Purchaser will provide further information about a mandatory tender offer in due course, upon closing of the Transaction.

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.