Acquisition bid for Dalata Hotel Group rebuffed
Irish hotel group Dalata said it rejected a €1.3 billion buyout bid from the Scandinavian consortium of Pandox AB and Eiendomsspar AS.
Dalata said the bid undervalued the business.
The Irish group operates 55 hotels in the Maldron and Clayton Hotel brands, of which most are in Ireland and the UK.
Dalata says there are ongoing ‘constructive discussions’ with other bidders who submitted non-binding proposals.
Both Norway-based Eiendomsspar and Sweden’s Pandox have single digit stakes in Dalata.
Pandox AB specialises in the ownership, owns, develops and leasinges of large hotel assets across Sweden and Northern Europe cities including Berlin and Brussels.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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