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Report: Barceló considers buying HNA's €670M stake in rival NH Hotel

Spanish hotel operator Barceló Group is considering to make an offer to acquire the €670 million stake in NH Hotel Group SA owned by its biggest shareholder HNA Group Co. Ltd., Bloomberg News reported June 1, citing sources familiar with the matter.

Barceló is said to be in discussions with advisory company Alantra Partners SA for HNA's nearly 30% interest in the rival hospitality chain, according to the sources. Barceló, which made a failed bid to merge with NH Hotel in January after the latter's board declined the proposal, has yet to finalize its decision, and there is no confirmation on whether it will push on with its offer.

Chinese conglomerate HNA confirmed in a letter to the Comisión Nacional del Mercado de Valores June 1 that it has received a number of informal expressions of interests for its NH Hotel stake, the same day Bangkok-based Minor International PCL said it was planning to submit a binding offer to pick up the stake, adding that it could possibly publicly tender for NH Hotel shares, according to the report.

HNA, Alantra and Barceló representatives declined to comment on the matter, the news outlet added.