Radisson Hospitality AB successfully obtains consents to facilitate the proposed acquisition of more than 50 per cent of its outstanding shares
Radisson Hospitality AB (publ) (“Radisson Hospitality”) announced that its wholly-owned direct subsidiary, Radisson Hotel Holdings AB (publ) (the “Issuer”), has successfully concluded the consent solicitation process relating to its €250,000,000 6.875% Senior Secured Notes due 2023 (the “Notes”) that has previously been announced in a press release of 19 September 2018. The purpose of the consent solicitation was to facilitate the proposed acquisition, pursuant to certain existing agreements, including any amendment or extension thereof, by a consortium led by Jin Jiang International Holdings Co., Ltd. (锦江国际（集团）有限公司) (the “Purchaser”), of more than 50 per cent of the outstanding shares and votes in Radisson Hospitality (together with its subsidiaries, the “Target Group”) from Radisson Hospitality, Inc. and HNA Sweden Hospitality Management AB (the “Sellers”) (the proposed acquisition, the “Acquisition”).
The Issuer has now obtained the required consents from holders of a majority of the aggregate principal amount of its outstanding Notes to effect the requested waiver (the “Change of Control Waiver”) and the related amendment (the “Proposed Amendment”) of the Indenture governing the terms and conditions of the Notes (the “Indenture”). As the Change of Control Waiver and the Proposed Amendment have become effective, the Acquisition and the subsequent transfers of beneficial ownership of the Target Group to the affiliates of the Purchaser will be permitted without the need for the Issuer to make a Change of Control Offer as provided for in the Indenture. The Change of Control Waiver and the Proposed Amendment will not become operative if the consent payment to be made to holders of Notes who provided, and did not validly revoke, consent is not made and until and unless Radisson Hospitality becomes aware that the Acquisition is completed.
This information is information that Radisson Hospitality AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 8:30am CEST on 26 September 2018.
Investor Relations Contacts:
Deputy President & CFO
Executive Vice President & General Counsel
ABOUT RADISSON HOSPITALITY AB
Radisson Hospitality AB (publ) [formerly Rezidor Hotel Group AB (publ)], publicly listed on Nasdaq Stockholm, Sweden, is one of the largest hotel companies in Europe, the Middle East & Africa (EMEA).
Radisson Hospitality AB is a member of the Radisson Hotel Group, 11th largest hotel group in the world. Through a master franchise agreement with Radisson Hospitality, Inc. USA – Radisson Hospitality AB operates and develops hotel brands; Radisson Collection, Radisson Blu, Radisson, Radisson RED, and Park Inn by Radisson, across EMEA; along with the Radisson Rewards loyalty program for frequent hotel guests. Since 2016, Radisson Hospitality AB also owns 49% of prizeotel.
Radisson Hospitality AB (publ) features a portfolio of 486 hotels with more than 107,136 rooms in operation or under development in 78 countries across EMEA. Radisson Hospitality AB and its brands employ 45,000+ team members. The company has an industry-leading Responsible Business Program and is named one of the World's Most Ethical Companies by the US think-tank Ethisphere since 2010.
Radisson Hospitality AB is headquartered in Brussels, Belgium.