Minor International Public Company Limited (MINT) announced that the Board of Directors in November 2019 passes a resolution to approve an investment in hotel operating companies. Presently, the transaction has been finalized. NH Hotel Group, S.A. and some subsidiaries acquired 100% in Roco Hospitality Group S.r.l., New York Palace Kft, AGAGA s.r.o. for the right to enter into long term agreements of real estates properties owned by Murdelux S.à.r.l. (the Seller), so that NH may perform the hotel operation with its trademarks, know-how, loyalty program and the rest of its intangibles.
The transaction value is EUR 52.6 Million or equivalent to THB 1.9 Billion, with the source of funds from Company’s cash on hand.
Objective of the investment is to boost the Anantara brand awareness in Europe, along with reinforce NH leading position in the Italian hotel market and gain market position in France and in the main capital cities of Eastern Europe.
In addition, MINT aimed to earn a good financial return on the investment through dividend and capital gain in the future.