Dewey & LeBoeuf and Spanish firm CMS Albiñana & Suárez de Lezo have advised on a stake acquisition and joint venture between a Chinese airline and a Spanish hotel chain.
China’s fourth-largest airline company HNA Group Co. Ltd., which operates Hainan Airlines, has bought a 20 percent interest in Madrid-listed hotel chain NH Hoteles S.A. for $620 million. The agreement is subject to regulatory and shareholder approval. If successful, the deal will make HNA Group the second-biggest shareholder in NH Hoteles.
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