A consortium led by Chinese conglomerate Jin Jiang International (Holdings) Co. Ltd. completed a majority share acquisition in Belgium-based Radisson Hospitality AB.
The consortium, which now holds 50.21% of the shares and votes in Radisson Hospitality, is obliged under the Swedish Takeover Act to, within four weeks, make a mandatory public offer for the remaining shares or sell enough shares so that its ownership drops below 30% of the votes.
Radisson Hospitality's board has formed an independent committee to handle matters related to a possible mandatory public offer.
