The Spanish Securities Commission (CNMV) has authorised the delisting tender offer for Minor Hotels Europe & Americas, S.A. launched by MGH Continental Holding (Singapore) PTE. LTD. The offer is for 100% of Minor’s share capital but is effectively directed at 18,017,448 shares (4.13%), as the bidder’s 417,728,222 shares (95.87%) have been immobilised until completion. The offer price is EUR 6.51 per share and is not subject to conditions. The price was set in line with Article 65 of the Securities Markets and Investment Services Law and Article 10 of the Royal Decree on takeover bids for delisting offers, supported by a valuation report prepared by Ernst & Young Servicios Corporativos, S.L. Two bank guarantees totalling EUR 117,293,586.48 have been provided by Bangkok Bank Public Company Limited. The shares will be delisted once the transaction is settled; the bidder also states it will pursue a squeeze-out if the relevant requirements are met, in which case delisting would occur upon settlement of that forced sale. The acceptance period will be 54 calendar days, starting on the trading day following publication of the first announcement with the essential terms of the offer and ending on a trading day. The prospectus and supplementary documents will be available in the CNMV’s public registers from at least the trading day after that first announcement.
Spanish Securities Commission (CNMV) 2025-07-23
Spanish Securities Commission authorises MGH Continental Holding’s delisting tender offer for Minor Hotels Europe & Americas at EUR 6.51 per share
The Spanish Securities Commission (CNMV) has authorized a delisting tender offer for Minor Hotels Europe & Americas, S.A. by MGH Continental Holding (Singapore) PTE. LTD. The offer targets 4.13% of shares, with 95.87% immobilized until completion, priced at EUR 6.51 per share. Supported by a valuation from Ernst & Young and bank guarantees from Bangkok Bank, the shares will be delisted upon settlement, with a potential squeeze-out if conditions are met.