A company based in the United Arab Emirates has become the largest shareholder in the UK travel management company Hogg Robinson Group (HRG). DNATA, a member of the Emirates Group, bought 61,366,000 1p ordinary shares in the company in two sorties onto the London Stock Exchange (LSE). The purchases give DNATA a 19.9% stake in HRG.

DNATA is one of the largest travel management companies in the Middle East and is HRG’s main representative in the region.

Previously HRG’s largest single shareholder had been Beverweerd Investments, a Dutch company linked to rival TMC BCD Travel, which has built up a 13.14% stake over five months to the end of April this year.

DNATA, in a statement to the LSE, said its newly acquired shares were for “investment purposes” and comprised its total holding in HRG. It added:

“DNATA confirms that it has no current intention of making a formal offer for Hogg Robinson.”DNATA intends to be a long term, supportive shareholder in Hogg Robinson.”

But, under Stock Exchange rules, it reserved its rights to make a bid if circumstances changed, including if another company made an offer.

David Radcliffe, HRG’s ceo, said: “We have worked successfully with DNATA for many years and welcome them as a long term supportive shareholder in HRG.”

Speaking in the same vein, Olufemi Adefope, Managing Director, HRG Nigeria said, “We welcome DNATA’s investment. I think it’s a very positive move, because a stronger HRG with DNATA investment means a more vibrant parent group with many possibilities. More investment in HRG will mean HRG can also look at

investment in its affiliates’ companies in Africa