Radisson Hospitality AB (publ) (the "Company") notes today's announcement by a consortium led by Jin Jiang International Holdings Co., Ltd., including SINO-CEE Fund (the "Consortium"), that the Consortium, through Aplite Holdings AB, has completed the previously announced acquisition of shares in the Company. Following completion, the Consortium now holds 50.21 percent of the shares and votes in the Company[1].
Through the acquisition, the Consortium has reached a shareholding in the Company that exceeds the mandatory bid threshold under the Swedish Takeover Act.
Accordingly, the Consortium is obliged to, within four weeks from today, make a mandatory public offer for the remaining shares in the Company or sell shares such that the Consortium's ownership in the Company falls below 30 per cent of the votes in the Company.
The Board of Directors of the Company has within itself appointed an independent committee, consisting of all board members save for the board members that are not independent in relation to HNA Tourism Group Co., Ltd., to handle matters in connection with the above transaction and a possible mandatory public offer. The independent committee hence consists of board members Andreas Schmid (chair), Lo Kin Ching, Wolfgang M. Neumann, Thomas Staehelin, Göran Larsson and Ulf Petersson.
The Consortium's press release is available here: http://news.cision.com/jin-jiang-international--holding--co--ltd/r/jin-jiang-international-and-sino-cee-fund--through-aplite-holdings--completes-the-acquisition-of-50-,c2670624. Additional information regarding the transaction is also available in the press release issued by the Company on 9 August 2018.
Investor Relations Contacts:
KNUT KLEIVEN
Deputy President & CFO
knut.kleiven@radissonhotels.com
EVA-MARIA ERAUW
Executive Vice President & General Counsel
eva-maria.erauw@radissonhotels.com
[1] Based on 174,388,857 outstanding shares in the Company (including 2,532,556 shares held in treasury by the Company).
