Fattal makes £930m non‑binding approach for PPHE

(Sharecast News) - Fattal Hotel Group said on Thursday that it has submitted a non‑binding proposal to acquire the remaining shares of PPHE Hotel Group for £22 per share in cash, valuing the London‑listed hospitality group at around £930m.

The approach, announced on 27 May, represents a premium of roughly 47% to PPHE's closing price of £15 on 13 November 2025, the last trading day before PPHE disclosed that certain shareholders were exploring strategic options.

Fattal, which already owns about 4% of PPHE, said it had asked to engage with the PPHE board on potential transaction structures and was willing to keep the proposal open for a limited period with the aim of announcing a firm offer within four weeks.

PPHE has since said its board, together with advisers, considers the proposal to represent fair value and will consult major shareholders to assess deliverability.

Fattal stressed that there was no certainty a binding offer will be made, nor that final terms would match the indicative £22 per share, noting that consideration could include securities or vary under certain circumstances, including board recommendation, dividends, or a competing lower‑priced offer. Any firm offer would currently be envisaged as all‑cash.

It also highlighted that, under a dispensation granted by the Takeover Panel in relation to PPHE's formal sale process, it was not subject to the standard 28‑day "put up or shut up" deadline while it remains a participant.

As of 0855 BST, PPHE shares had surged 24.38% to 2,005p.

Reporting by Iain Gilbert at Sharecast.com

See latest RNS at Investegate