Spanish hotels company Barcelo offers to buy NH Hotel Group

Madrid

NH Hotel Group confirmed on Monday that it has received a possible takeover offer from rival Spanish hotel group Grupo Barcelo in a deal that could create the biggest hotel group in Spain.

Grupo Barcelo, which has over 230 hotels in 21 countries, proposed having a 60 per cent stake in the shared group and a majority on the board in the unsolicited non-binding expression of interest, NH said in a statement to the Spanish stock exchange.