Hilton Parent to Sell Stake, Nation Beef Agreed to Brazil Deal

Mukesh Buch
09 Apr, 2018
New York City

Hilton Worldwide shareholder HNA Tourism Group plans to sell 63.05 million shares. National Beef Packing agreed to be acquired by Brazil-based Marfrig Global Foods for $969 million.

[R]12:55 PM New York City, New York – Hilton Worldwide shareholder HNA Tourism Group plans to sell 63.05 million shares. National Beef Packing agreed to be acquired by Brazil-based Marfrig Global Foods for $969 million.[/R]

Tollbooth Index slid 82.72 or 0.6% to 14,542.38 and in the year-to-date fell 5.6%.

Earnings Review

eHi Car Services Ltd slipped 1.9% or 26 cents to $12.99 after China-based car rentals and car services provider said revenues in the year ending in December soared 29.9% from a year ago to $421.1 million.

Net income in the year surged 269% to $18.8 million and gross profit margin jumped 31.4% from 28.1% in the same period a year ago.

Business First Bancshares, Inc ((BSFT)), the banking services provider received all necessary approvals from Nasdaq Stock Market and its shares begins to trade under the ticker symbol ""BFST"" from today’s market open.

Hilton Worldwide Holdings Inc ((HLT)) slid 4 cents to $77.48 after the hotel chain operator’s major shareholder HNA Tourism Group plans to sell approx 63.05 million shares in a secondary offering.

National Beef Packing Company LLC, the privately held fresh and frozen beef and beef by-product provider agreed to be acquired by Brazil-based Marfrig Global Foods SA for about $969 million.

Viacom Inc ((VIAB)) rose 19 cents to $31.10 after Reuter said that the media publisher and distributor asked CBS Corporation to increase its merger bid by about $2.8 billion.

Last week, Viacom asked CBS to increase its offer to 0.68 shares for each class B share of Viacom from 0.55 of its shares. Consolidation of CBS and Viacom will offer the merged company more leverage in negotiating with cable distributors.