• NH share move

Spanish hotel group NH is taking control of its Italian joint venture, NH Italia, via a share issue. Co-investor Intesa Sanpaolo will give up its 44.5% stake in the JV, in return for being issued with 42 million new NH shares.

The deal will increase NH’s issued share capital by around 12%, and give Intesa 16% of the group’s total shareholding. NH’s leverage will reduce, and it is hoped the move will encourage greater liquidity in the company’s shares.
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