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Thailand's Minor International buys stake in NH Hotel Group for €192M

Bangkok-based Minor International Public Co. Ltd. agreed to acquire 30 million shares of Spain's NH Hotel Group SA for €192 million.

The transaction will increase Minor's stake in the hotel group to 8.6% on a fully diluted basis.

CEO of Minor Hotels Dillip Rajakarier said in a release that the investment was "financially attractive, with high liquidity on the Madrid Stock Exchange and proven performance by the business."

The company noted that it expects no changes in the management of NH Hotel Group as a result of the transaction.