Advokatfirman Lindahl advises the Chinese company HNA Tourism Group Co., Ltd (“HNA Tourism”) on its acquisition of Carlson Hotels, Inc. (“Carlson Hotels”) and the mandatory tender offer to the shareholders of Rezidor Hotel Group AB (“Rezidor”), a company listed on Nasdaq Stockholm.
On 27 April 2016, HNA Tourism announced its acquisition of Carlson Hotels from Carlson Hospitality Group (the “Acquisition”). Carlson Hotels holds a 51.3 per cent stake in Rezidor. The Acquisition was completed on 7 December 2016, which triggered an obligation for HNA Tourism to launch a mandatory tender offer for the remaining outstanding shares in Rezidor.
On 22 December 2016, HNA Tourism, through its Swedish subsidiary HNA Sweden Hospitality Management AB, announced a mandatory tender offer to the remaining shareholders of Rezidor. The tender offer values Rezidor at approximately SEK 6 billion.
HNA Tourism has prior to the Acquisition and the mandatory tender offer received rulings from the Swedish Securities Council (AMN 2016:10 and AMN 2016:27) on among things the lowest consideration to be paid in the mandatory tender offer.
HNA Tourism, the core subsidiary of the Fortune Global 500 company HNA Group, is a comprehensive enterprise group providing multiplex services. Since its founding in 1993, HNA Group has evolved from a regional airline based on Hainan Island into a global company with over $90 billion of assets, $30 billion in annual revenue and an international workforce of nearly 200,000 employees, primarily across North America, Europe and Asia. HNA Tourism has over 700 aircraft carrying over 90 million passengers to 260 cities worldwide. Together with Carlson, HNA Tourism operates and invests in nearly 2,000 hotels with over 300,000 rooms across major markets.
Lindahl assists HNA Tourism on the Acquisition and the mandatory tender offer through Annika Andersson (Capital Markets and Public M&A) with the assistance of Maria Arnoldsson, Olivia Toftgård, Sebastian Iso-Kamula, Oliver Kronberg and Oscar Lunde (Capital Markets and Public M&A), Peter Lilja (M&A), Ulrica Salomon and Johanna Svantesson (Competition), Jesper Johansson and Jens Malmqvist (Banking and finance) and Anna Romell Stenmark (Tax).
The other advisors to HNA Tourism include J.P. Morgan and Benedetto, Gartland & Company as financial advisors and Hogan Lovells as legal advisor.
