Consortium proposes €1.3 billion acquisition of Dalata, Ireland’s largest hotel group
A consortium composed of property owners Pandox AB and Eiendomsspar AS has submitted a proposal to acquire Dalata Hotel Group, Ireland’s largest hotel operator, for €1.3 billion.
The offer consists of a cash bid of €6.05 per ordinary share, representing a premium of approximately 5% over Dalata’s closing share price on Monday. Eiendomsspar currently holds around 8.8% of Dalata’s issued ordinary shares, making it the company’s second-largest shareholder.
The bid follows Dalata’s announcement in March that it had initiated a strategic review to explore options for enhancing shareholder value, including the possibility of a sale.
Dalata operates 55 hotels under the Maldron and Clayton brands, primarily located in Ireland and the United Kingdom.
Under British takeover regulations, the consortium has until July 15 to submit a formal offer or withdraw its interest.
Photo: Clayton Hotel Cardiff, Dalata Hotel Group