Dalata takeover proposal secures EU clearance ahead of court hearing

(Alliance News) - Dalata Hotel Group PLC on Tuesday said the EU Commission has cleared its proposed acquisition by takeover vehicle Pandox Ireland Tuck Ltd.

Shareholders in the Dublin-based Maldron and Clayton hotel operator last month approved the offer, which comes from a new vehicle owned by Pandox AB and Eiendomsspar AS.

Pandox is a Stockholm-based hotel developer and Eiendomsspar an Oslo-based real estate firm. Their joint vehicle has offered to buy Dalata for EUR1.39 billion in cash, about GBP1.21 billion.

Per share, the offer is for EUR6.45, representing a 35% premium to Dalata's closing price on March 5, the day before it entered a review and sale process. It is also an improvement on the consortium's earlier bid for EUR6.05 per share.

Dalata shares were quoted at 557.26p, about EUR6.42, in London on Tuesday, up 65% over the past 12 months.

Dalata said the takeover's Irish court sanction hearing is scheduled for October 29. Subject to the court sanction, Dalata expects its acquisition to close early next month.

By Holly Munks, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2025 Alliance News Ltd. All Rights Reserved.