Pandox To Make Cash Offer For Dalata Hotel

(RTTNews) - Pandox AB and Eiendomsspar AS have, through Pandox Ireland Tuck - Bidco, announced a firm intention to make a cash offer for the entire share capital of Dalata Hotel Group plc, valuing the fully diluted share capital of Dalata at approximately 1.4 billion euros. The buyer is Pandox Ireland Tuck, a newly incorporated company which, at completion of the acquisition, will be owned by: Pandox - expected 91.5 percent; and Eiendomsspar - expected 8.5 percent.

The acquisition comprises a portfolio of 56 hotel businesses, including 31 freehold and long leasehold properties, 22 leasehold hotels and 3 managed hotels in the Republic of Ireland, the UK, Germany and the Netherlands.