Abu Dhabi Fund for Development Gets Exposure to Thai Resorts from Minor International

Posted on 01/03/2022

Bangkok-based Minor International Public Company Limited (MINT) formed a hotel portfolio joint venture with Abu Dhabi Fund for Development (ADFD). They will jointly hold shares in four tourist resort and a plaza mall assets in Thailand. The assets are: Anantara Riverside Bangkok Resort, Avani+ Riverside Bangkok Hotel, Riverside Plaza Bangkok, Anantara Layan Phuket Resort and Four Seasons Resort Koh Samui. The shareholding structure of the joint venture will be 60% held by MINT and 40% by ADFD. Upon establishment of the agreement, ADFD will purchase 40% stakes in MINT’s interest of each asset at the aggregate selling price of US$ 104.8 million (approximately THB 3.5 billion). The net proceeds from the sale of 40% MINT’s interest in these five assets are primarily intended for deleveraging and strengthening of MINT’s balance sheet position. These five assets will continue to be operated under the existing brands and under the control of MINT.

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