HomeHotelMeliá will enter Santander in the ownership of three emblematic hotels

Meliá will enter Santander in the ownership of three emblematic hotels

Meliá Hotels International has reached an agreement by which the investment vehicle Moon GC&P Investments, owned by Banco Santander, will take a minority stake worth 300 million euros in the share capital of a subsidiary company of the Meliá Group, which owns three emblematic hotels. The information was communicated to the National Securities Market Commission (CNVM) this Monday.

Moon GC&P Investment will take the representative participation of 38.2% in the share capital from April 11, 2024, through the creation of new type B shares, of a preferred nature.

The new joint subsidiary will own the hotels ME London (London), Gran Meliá Palacio de Isora (Tenerife) and Meliá Cala Galdana (Minorca). The three assets will continue to be operated by companies of the Meliá Group

The ME London hotel is one of the three assets of the new joint subsidiary. Source: Meliá Hotels International.

The disbursement by Moon GC&P Investments SLU for the acquisition of this minority stake will be 300 million euros, which will be included in the Non-Dominant Interests heading of the Consolidated Balance Sheet of the Meliá Group.

“This operation is part of Meliá’s strategic objectives, in order to maintain the strength of our balance sheet. The fact that it is supported by a partner with the prestige and leadership of Banco Santander is a guarantee, and a magnificent sign of trust,” he explained. Angel Luis RodriguezCFO of Meliá Hotels International.

For his part, Ignacio Dominguez-Adame, head of Santander Coporate & Investment Banking (Santander CIB) in Europe, highlighted that “the tourism sector is experiencing a moment of strong recovery with very good future prospects after the crisis caused by the pandemic. Banco Santander wants to be present in this phase, supporting and accompanying companies with innovative solutions that allow this recovery to be consolidated.”

Source: Hosteltur

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