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Takeover group increases offer for Radisson Hospitality

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Takeover group increases offer for Radisson Hospitality

After its initial mandatory public offer of 40 Swedish kronor per share was rejected by the independent committee of Radisson Hospitality AB's board of directors, a consortium led by Jin Jiang International (Holdings) Co. Ltd. has returned to the Belgium-based hotelier with a revised offer of 42.50 kronor per share.

Radisson said the independent committee will evaluate the new offer from the consortium, which includes the SINO-CEE Fund and is being conducted through the joint-acquisition vehicle Aplite Holdings AB, and will respond no later than Jan. 28. The acceptance period for the offer, which the consortium told Radisson would not be increased, will begin Jan. 7 and expire Feb. 4.

Aplite already owns a 50.94% stake in Radisson, according to S&P Global Market Intelligence data.

As of Jan. 3, US$1 was equivalent to 9.00 Swedish kronor.