Latest news with #DalataHotelGroup
Business Wire
3 days ago
- Business
- Business Wire
Form 8.3 - Dalata Hotel Group plc
LONDON--(BUSINESS WIRE)-- FORM 8.3 IRISH TAKEOVER PANEL DISCLOSURE UNDER RULE 8.3 OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2013 DEALINGS BY PERSONS WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE 1. KEY INFORMATION Name of person dealing (Note 1) Fund(s) for whom Sand Grove Capital Management LLP is the Investment Manager Company dealt in Dalata Hotel Group plc Class of relevant security to which the dealings being disclosed relate (Note 2) €0.01 ordinary shares Date of dealing 15 July 2025 Expand 2. INTERESTS AND SHORT POSITIONS (a) Interests and short positions (following dealing) in the class of relevant security dealt in (Note 3) Long Short Number (%) Number (%) (1) Relevant securities (2) Derivatives (other than options) 4,410,494 2.085% (3) Options and agreements to purchase/sell Total 4,410,494 2.085% Expand (b) Interests and short positions in relevant securities of the company, other than the class dealt in (Note 3) Class of relevant security: Long Short Number (%) Number (%) (1) Relevant securities (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total Expand 1. DEALINGS (Note 4) (a) Purchases and sales Purchase/sale Number of relevant securities Price per unit (Note 5) Expand (b) Derivatives transactions (other than options transactions) Product name, e.g. CFD Nature of transaction (Note 6) Number of relevant securities (Note 7) Price per unit (Note 5) CFD Opening a long position 1,600,000 6.3709 EUR CFD Increasing a long position 2,050,000 6.373659 EUR CFD Increasing a long position 350,000 6.375 EUR CFD Increasing a long position 100,000 6.37 EUR CFD Increasing a long position 250,000 6.369 EUR CFD Increasing a long position 60,494 6.375 EUR Expand (c) Options transactions in respect of existing relevant securities (i) Writing, selling, purchasing or varying Product name, e.g. call option Writing, selling, purchasing, varying etc. Number of securities to which the option relates (Note 7) Exercise price Type, e.g. American, European etc. Expiry date Option money paid/received per unit (Note 5) Expand (ii) Exercising Product name, e.g. call option Number of securities Exercise price per unit (Note 5) Expand (d) Other dealings (including transactions in respect of new securities) (Note 4) Nature of transaction (Note 8) Details Price per unit (if applicable) (Note 5) Expand 2. OTHER INFORMATION Agreements, arrangements or understandings relating to options or derivatives Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated. None Is a Supplemental Form 8 attached? (Note 9) NO Date of disclosure 16 July 2025 Contact name Abel Romero Telephone number +44 (0)20 3770 8625 If a connected EFM, name of offeree/offeror with which connected If a connected EFM, state nature of connection (Note 10) Expand
Irish Times
4 days ago
- Business
- Irish Times
EU readies tariff response and how to buy the home you're renting
The Government has come up short in its efforts to convince the European Commission not to target US bourbon, Boeing aircraft and agriculture produce in potential retaliatory tariffs. Jack Power reports from Brussels that the views of other governments in the European Union have begun to harden, after US President Donald Trump threatened to raise blanket tariffs on trade - which are taxes on imports - coming from the EU to 30 per cent from August 1st. A Scandinavian consortium that had been circling Dalata Hotel Group has reached an agreement to buy the business for €1.4 billion. Joe Brennan has the story. Talks with investors and creditors on a deal to save troubled airline Cityjet are continuing, it emerged on Tuesday. The carrier has until mid-August to secure a rescue deal after the High Court extended an order protecting it from creditors on Tuesday. Barry O'Halloran was in court. For many renters, having the opportunity to buy out your landlord and own the place. That's not always possible but under new rules, tenants now have first refusal if their landlord is selling up. In Money Matters, Joanne Hunt shows how to do it. READ MORE How many civil servants should a country like Ireland need, really? It's a question John McManus attempts to answer in his column. Irish business leaders are increasingly focused on staff pressures, mounting costs and digital risks, while placing far less emphasis on threats such as physical crime, legal disputes or debt servicing, a new report shows. Colin Gleeson has the story. The circumstances in which 'private wires' will be permitted in Ireland have been approved by the Government, which also marks a big reform of the Irish electricity market by ending the monopoly of ESB Networks. Kevin O'Sullivan reports. Cattle prices jumped by close to half over the past year, according to new figures from the Central Statistics Office (CSO), as agricultural output prices increased by more than a fifth across the board. Hugh Dooley reports. There will be no major uptick in housing supply this year or in 2026 with Government targets set to be missed over both periods, the Economic and Social Research Institute (ESRI) has told and Oireachtas committee. Colin has the details. The Government will have to ringfence funding for the expansion of Ireland's ports, an Oireachtas committee heard on Tuesday, with just one port on the island capable of facilitating the construction of floating wind projects. Ian Curran has the story. NatWest Group has raised €126 million from the sale its remaining 11.7 per cent stake in PTSB as it seeks to draw a line under its involvement in the Republic's banking sector. Joe has the story. Plans by Eamon Waters' Balrath Investments vehicle for a 273 bed-space tourist hostel for Dublin's Drury Street are facing questions amid concerns from locals about a possible increase in on-street drinking. Gordon Deegan has the plans. In the final commercial property section of the summer, Ronald Quinlan reports that the Dublin-based McCormack family's investment vehicle Alanis Capital and its funding partner, Deutsche Bank, are seeking a buyer for One Haddington Buildings in Dublin 4 at a guide price of €27.15 million. Ronald also has details of a Sandyford office building on the market for €24.2 million. If you'd like to read more about the issues that affect your finances try signing up to On the Money , the weekly newsletter from our personal finance team, which will be issued every Friday to Irish Times subscribers.
Irish Times
4 days ago
- Business
- Irish Times
Nordic group to make €1.4bn bid for Dalata
A Scandinavian consortium that has been circling Dalata Hotel Group announced on Tuesday a firm intention to make an improved offer of €1.4 billion for the business, which the board intends to back. The move comes six weeks after an initial offer by Oslo-based investment firm Eiendomsspar and Swedish hotel company Pandox, in which it owns an almost 25 per cent stake, saw their initial €1.3 million bid rejected by the Dublin-listed group. The planned offer of €6.45-a-share is 40 cents above the initial bid and marks a 35.5 per cent premium to Dalata's stock before the board launched a strategic review in early March. Dalata is run by chief executive Dermot Crowley. The deal, which would be carried out through a new vehicle called Pandox Ireland Tuck Limited, comprises a portfolio of 56 hotel businesses, including 31 freehold and long leasehold properties, 22 leasehold hotels and three managed hotels in the Republic of Ireland, the UK, Germany and the Netherlands. READ MORE The consortium has signed up Scandic Hotels Group, which is almost 15 per cent owned by Eiendomsspar and runs 264 hotels, mainly on short-term leases, to be the operating partner for the Dalata portfolio following a purchase.
Bloomberg
5 days ago
- Business
- Bloomberg
Pandox Consortium Makes €1.4 Billion Offer for Dalata Hotel
A consortium including Pandox AB and Eiendomsspar AS has made a firm €1.4 billion ($1.6 billion) offer for Dalata Hotel Group Plc, which the board of Dalata intends to recommend unanimously. Ireland's largest hotel operator last month rejected an earlier bid from the same consortium, saying it will continue to engage with other bidders in a sale process it launched earlier this year.
Irish Times
20-06-2025
- Business
- Irish Times
Nordic group mulls higher offer for Dalata as it buys more shares in Irish hotel chain
A Scandinavian consortium circling Dalata Hotel Group has signalled an interest in potentially making an improved offer for the business, after its €1.3 billion bid was rejected earlier this month. Oslo-based investment firm Eiendomsspar and Swedish hotel company Pandox, in which it owns an almost 25 per cent stake, said on Friday that they have bought 1.69 million shares in Dalata at €6.30 – marking a premium to the €6.05-a-share non-binding offer it had made for the company. 'Consequently, any firm intention to make an offer for Dalata by the consortium in accordance with Rule 2.7 of the Irish Takeover Rules, if made, will be at a price of not less than €6.30 per share,' the Nordic group said. 'There can be no certainty that any offer will be made. A further announcement will be made as appropriate. Any offer, if made, is likely to be solely in cash, although the consortium reserves the right to vary the form of consideration and/or introduce other forms of consideration.' READ MORE Eiendomsspar already owned an 8.8 per cent stake in Dalata before it made the bid approach. This latest share buying brings its stake in the Irish hotel group to 9.6 per cent. [ Dalata rejects surprise €1.3bn bid from Scandinavian consortium Opens in new window ] The property firm, which has a history of large investments in hotels, first emerged with a disclosable stake above 3 per cent in Dalata at the end of October. The company added to its stake the following month. But its chief executive, Sigurd Stray, sought to contain speculation at the time that it could amount to a strategic stake-build, telling The Irish Times he saw it as a 'financial investment' that would 'hopefully provide a fair return over time'. The early-June bid came as a surprise as the Pandox-Eiendomsspar consortium had not been involved in a formal sale process, managed by investment bank Rothschild, that has been going on in recent months. Dalata, which is led by chief executive Dermot Crowley, rejected that offer, saying it 'materially undervalues the group and its prospects'. [ Bidding war for Dalata Hotel Group hots up Opens in new window ] The board of Dalata, which floated on the stock market in 2014, hired investment bank Rothschild to carry out a strategic review of the business in March, following a sustained period of underperformance by the stock. Shares in Dalata jumped as much as 5.3 per cent to €6.53 on Friday afternoon, after the Pandox-Eiendomsspar consortium revealed its latest share purchase. The spike suggest that investors are holding out for a bid above the new floor that the consortium has set for a potential second tilt at the company.
