New structure agreed for Italy's Jolly Hotels

Spanish hotel group NH Hotels and Banca Intesa have concluded an agreement giving them control over Italy's Jolly Hotels group. A new holding company will be formed called Grande Jolly with control of 75% of the hotel group. It will launch a bid to buy the outstanding 25%. Presently Joker Partecipazioni owns 50% of Jolly Hotels, with NH Italia, a joint venture between NH Hotels and Banca Intesa , holding 21% and Banca Intesa 4%.

Would you like to read more? Log in first (top right of the screen) or take a trial.