The Caterer
Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

Hilton set to repurchase 10 million shares from HNA

10 April 2018 by

Hilton has announced its intention to repurchase 10 million shares from HNA Group.

An HNA affiliate has commenced a secondary offering of more than 63 million shares. The underwriters will have a 30-day option to purchase up to an additional 9.5 million shares.

Hilton has the right to increase its number of shares repurchased up to 16.5 million shares. Pricing for the offering has not been set and is conditional on the closing of the offering.

The Chinese tourism conglomerate and Hilton's largest stakeholder HNA Group announced its intention to sell some or all of its $6.5b (£4.6m) stake in Hilton last week. HNA bought into the company just over a year ago with its acquisition of the holding previously held by US private equity company Blackstone.

Earlier this year, HNA sold the shares it bought in Park Hotels and Hilton Grand Vacations through its Hilton acquisition. It is believed that the heavily indebted Chinese group is looking to offload a number of assets in an attempt to balance its books.

Hilton has more than 5,200 hotels worldwide operating under 14 brands, including Waldorf Astoria, Conrad, Hilton Hotels & Resorts, Doubletree by Hilton and the Tapestry Collection.

Hilton's largest shareholder is looking to sell up >>

HNA considering sale of its stake in Park Hotels & Resorts >>

Chinese company to buy 25% stake in Hilton in £5.3b deal >>

Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!).

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking