Stockholm-based Pandox and Oslo-based Eiendomsspar are acquiring Dalata Hotel Group for €1.4bn. Dalata shareholders will receive €6.45 in cash per share, a 12pc premium on the prior closing price.
The acquisition follows a strategic review initiated in March aiming to boost shareholder value. The deal is expected to enhance Dalata’s growth and capital access while maintaining staff and management.
Pandox will control 91.5pc of the new entity, with Eiendomsspar acquiring the remaining 8.5pc.
Dermot Crowley, CEO of Dalata, shared, “Our focus remains firmly on our people and our customers. I’m proud to continue to lead our team in close partnership with our new owners. Pandox and Eiendomsspar are established hotel investors, well-positioned to support Dalata’s long-term growth ambition”
John Hennessy, Chair of Dalata, shared, “We believe that it is the right path forward for all stakeholders, and that it positions the business strongly for its next phase of growth under new ownership.”
Liia Nõu of Pandox shared, “The portfolio consisted of well-established and highly profitable four-star hotels in strong locations.”
