trending Market Intelligence /marketintelligence/en/news-insights/trending/KF6i0Ajac39ICrBoVLQnGA2 content esgSubNav
In This List

HNA pledges part of 70% Rezidor stake to secure loan

Blog

Insight Weekly: Banks brace for recession; Europe PE deal values soar; US solar imports rebound

Video

According to Market Intelligence, December 2022

Blog

Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes

Blog

Insight Weekly: Energy crisis cripples Europe; i-bank incomes rise; US holiday sales outlook


HNA pledges part of 70% Rezidor stake to secure loan

HNA Tourism Group Co. Ltd. pledged 10,600,000 of its 119,567,553 shares, or 70.4% stake, in Rezidor Hotel Group AB to secure a loan.

Rezidor disclosed the update to clarify market reports that HNA was selling "a large number of Rezidor shares," which would have been a departure from its long-standing offer to buy the company.

HNA said the pledged shares will be transferred back to the company after it fully repays the loan. It added that the lender is not entitled to exercise the voting rights that come with the pledged shares.

The size of the loan and the lender were not disclosed.