HNA to buy all shares of Rezidor

Brussels – 23 December 2016
1HNA Tourism Group has yesterday announced a mandatory public offer to the shareholders in Rezidor Hotel Group AB (publ) (“Rezidor”) to acquire all shares in Rezidor for a cash consideration of SEK 34.86 per share (the “Offer”). HNA owns, directly and indirectly, 51.3% of all outstanding shares in Rezidor following the acquisition of Carlson Hotels Inc.

According to HNA’s announcement it intends to make an offer document available around 2 February 2017, which will be distributed to the shareholders in Rezidor. HNA has further informed that the offer period will start on 3 February 2017 and end on 10 March 2017.

The Board will now evaluate the Offer and obtain a fairness opinion. The Board will no later than two weeks prior to the expiry of the acceptance period announce its opinion of the Offer, including the reasons for its opinion.

Trudy Rautio, Wendy Nelson and David Berg will not, due to conflict of interest following the sale of Carlson Hotels Inc. to HNA, participate in the Board’s processing of, or any other resolutions concerning, the Offer. The remaining members of the Board, being Staffan Bohman, Anders Moberg, Charlotte Strömberg and Göran Larsson, have for the purposes of the Offer appointed Staffan Bohman as chairman.

The Board has engaged SEB Corporate Finance as financial advisor and Gernandt & Danielsson Advokatbyrå as legal advisor in relation to the Offer. The Board has further appointed DNB Markets to provide a fairness opinion in relation to the Offer.