HNA Hospitality, HNA Group’s hotel subsidiary, told ChinaTravelNews on June 11 that the company was not, and had no plan of, negotiating to take a stake in AccorHotels.
This was in response to an earlier report by French newspaper Le Journal du Dimanche that AccorHotels' Chief Executive Sebastien Bazin held talks with HNA Group to try to thwart an attempt by another Chinese group Jin Jiang to boost its stake in the French hotel operator.
In a statement issued to ChinaTravelNews, the HNA affiliate stated it had no intention in participating in any “hostile acquisition”.
HNA Hospitality stated in the statement issued on June 10, 2016: “Reports of HNA Hospitality engaging in negotiations with AccorHotels for equity acquisitions are untrue, as HNA Hospitality has not been, and has no plan of, taking part in such talks.
“HNA Hospitality has always been prudent in its investments. The company will continue to comply with industry standards and corporate governance and will not take part in any hostile acquisition.
“The company reserves the right to pursue legal actions against any individual or company claiming to negotiate on behalf of HNA Hospitality without the company’s authorization.” (Translated by Jerry)
