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Jin Jiang takes Radisson

Alex Hayes 11 January 2019

Alex Hayes


+48 22 356 25 20

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

Jin Jiang takes Radisson
Shareholders are advised to reject the mandatory offer
WORLD A consortium led by Chinese investor Jin Jiang International Holdings has increased its mandatory offer to buy all the shares of Radisson Hospitality through its holding Aplite Holdings.

The mandatory offer was triggered when the consortium bought 87,552,187 shares corresponding to a 50.21 pct stake. The advisory board has recommended that shareholders reject the revised offer. The original offer of SEK 40 [EUR 3.91] per share was considered below the value of the company and despite the offer being raised to SEK 42.5 the advice remains the same.

Mingju Ma, the vice President of Jinjiang International, and chairman of Aplite, comments: "We have noted that all three independent research analysts covering Radisson Hospitality AB, recommended all shareholders to use the exit opportunity and accept the bid already at SEK 40.00. We have also noted that when the Independent Committee of the Board of Directors of Radisson Hospitality AB presented its view in respect of the previous SEK 40.00 offer price, it included that the liquidity of the Radisson Hospitality AB share may be further reduced as a result of the offer. After thoroughly reviewing the company, we believe the increased offer price of SEK 42.50 is extremely fair, with a 47.8 percent premium compared to the unaffected share price on June 29 2018 . It provides shareholders an exit at a very attractive valuation, in an otherwise challenging market, with an all-cash payment and zero commission. Therefore, we can confirm that we will not raise the offer price above SEK 42.50 and we will not extend the acceptance period beyond 4 February 2019. We will respect the outcome of the mandatory tender offer."

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