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

HNA pledges part of 70% Rezidor stake to secure loan

Video

S&P Capital IQ Pro | Powering Your Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud


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.