Form 6-K INTERCONTINENTAL HOTELS For: Oct 16
SECURITIES
AND EXCHANGE COMMISSION
Washington
DC 20549
FORM 6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 AND 15d-16
OF
THE
SECURITIES EXCHANGE ACT OF 1934
For 16
October 2017
InterContinental Hotels Group PLC
(Registrant's
name)
Broadwater
Park, Denham, Buckinghamshire, UB9 5HJ, United Kingdom
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form
20-F
Form 40-F
Indicate
by check mark whether the registrant by furnishing the information
contained in this form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes
No
If
"Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): Not
applicable
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EXHIBIT
INDEX
99.1
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Minority
interest in Avendra to be sold dated 16 October
2017
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Exhibit
No: 99.1
16th
October, 2017
InterContinental Hotels Group PLC
Minority Interest in Avendra to be sold
InterContinental
Hotels Group ("IHG") [LON:IHG, NYSE:IHG (ADRs)] today announces
that the owners of Avendra, LLC ("Avendra"), a North American
hospitality procurement services provider, have reached a binding
agreement to sell Avendra to Aramark (NYSE:ARMK) for $1,350
million.
IHG was
a founding shareholder in Avendra and has a 6.3% minority interest
with a book value of $2.1m, but has not been an active user of its
services in recent years. On completion of the transaction IHG
expects to receive gross cash proceeds of approximately $74m, with
estimated post tax proceeds of $44m. In addition, IHG will no
longer receive an annual dividend distribution from Avendra, this
has averaged $3.5m over the past two years.
The
transaction is subject to Antitrust clearance and satisfaction of
other customary closing conditions. The parties expect the
transaction to close before year-end.
-Ends-
For further information
Investor
relations (Catherine Dolton; Tom Yates):
+44
(0)1895 512176
+44 (0)7808
098724
Media
relations (Yasmin Diamond; Mark Debenham):
+44 (0)1895 512097
+44
(0)7527 424046
Notes to Editors:
IHG® (InterContinental Hotels Group) [LON:IHG, NYSE:IHG
(ADRs)] is a global organisation with a broad portfolio of hotel
brands, including InterContinental®
Hotels & Resorts, Kimpton® Hotels
& Restaurants, Hotel
Indigo®, EVEN®
Hotels, HUALUXE® Hotels
and Resorts, Crowne Plaza®
Hotels & Resorts, Holiday
Inn®, Holiday Inn
Express®, Holiday Inn Club
Vacations®, Holiday Inn
Resort®, Staybridge
Suites® and Candlewood
Suites®.
IHG
franchises, leases, manages or owns more than 5,200 hotels and
nearly 780,000 guest rooms in almost 100 countries, with more than
1,500 hotels in its development pipeline. IHG also manages
IHG®
Rewards Club, our global loyalty programme, which has more
than 100 million enrolled members.
InterContinental Hotels Group PLC is the Group's holding
company and is incorporated in Great Britain and registered in
England and Wales. More than 350,000 people work across IHG's
hotels and corporate offices globally.
Visit
www.ihg.com for
hotel information and reservations and www.ihgrewardsclub.com
for more on IHG Rewards Club. For our latest news, visit:
www.ihgplc.com/media
and follow us on social media at: www.twitter.com/ihg,
www.facebook.com/ihg
and www.youtube.com/ihgplc.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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InterContinental Hotels Group PLC
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(Registrant)
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By:
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/s/ F. Cuttell
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Name:
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F.
CUTTELL
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Title:
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ASSISTANT
COMPANY SECRETARY
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Date:
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16 October 2017
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