The combination of HNA Tourism Group and Carlson Hotels to have robust presence in international hospitality, with increased ability to accelerate growth, expand key brands, and strengthen its best-in-class hospitality experience for its guests. Carlson Hotels headquarters to remain in Minnetonka, Minn. HNA Tourism Group (HNA Tourism Group), a division of HNA Group, a Fortune Global 500 company with operations across aviation, tourism, hospitality, finance, and online services among other sectors, and Carlson Hospitality Group, Inc. today announced they have entered an agreement (Agreement), for the acquisition of Carlson Hotels, Inc.(Carlson Hotels), which owns the Quorvus Collection, Radisson Blu, Radisson, Radisson RED, Park Plaza, Park Inn by Radisson, Country Inns & Suites By Carlson SM brands and the Club Carlson SM global hotel rewards program.
The combination of HNA Tourism Group and Carlson Hotels will have increased ability to accelerate growth through investments in areas such as digital, owned assets in major gateway cities, building of Radisson RED and other new brands. Under terms of the Agreement, which were unanimously approved by the Carlson Board of Directors, HNA Tourism Group will acquire all of Carlson Hotels, including its approximately 51.3 percent majority stake in Rezidor Hotel Group AB (publ) (Rezidor), Carlson Hotel’s master licensee based in Brussels, with hotels in Europe, the Middle East and Africa.
Since the closing of the Transaction will result in an indirect change of control in Rezidor, HNA Tourism Group would, under Swedish takeover rules, be obliged to launch a mandatory public tender offer for the remaining approximately 48.7 percent of Rezidor, within four weeks after the closing of the Transaction if the ownership in Rezidor is not sold down below 30 percent. Hence, HNA Tourism Group may, during these four weeks following closing of the Transaction, decide whether to launch a mandatory public tender offer for the remaining shares in Rezidor or sell down its ownership in Rezidor below 30 percent.