Investment manager Elliott Management Corp. and private equity firm Apollo Global Management LLC are understood to be among the list of potential bidders for HNA Group Co. Ltd.'s approximately €657 million stake in NH Hotel Group SA, Bloomberg News reported, citing sources with knowledge of the matter.
HNA had tapped JPMorgan Chase & Co. and Benedetto Gartland & Co. in January to explore options for the almost 30% interest in the Spanish hotelier. The troubled Chinese conglomerate has been selling global assets to tackle debt following a shopping spree worth north of US$40 billion.
Bids are scheduled to be submitted as soon as the week ending June 2, and is subject to extension, the May 29 report noted.
