Following speculation in the media Pandox confirms that the company has entered a negotiating phase concerning the possibilities for a major acquisition. The acquisition concerns a hotel portfolio focused on larger cities in Great Britain and the Republic of Ireland. Pandox would like to emphasise that the deal is complex and that current negotiations may not necessarily lead to an agreement, and that it is not certain that the transaction will be successfully concluded.
Pandox is a leading hotel property owner in Europe. The company owns 122 hotel properties in eleven countries, including Great Britain, with a total property market value of approximately MSEK 41,000. Business development, for example acquisitions, divestments, leases and taking over of operations is a natural part of Pandox’s business and the company is continuously evaluating such opportunities.
More information will be provided when deemed appropriate or when an obligation arises.
Anders Nissen, CEO, +46 (0) 708 46 02 02
Anders Berg, Head of Communications and IR, +46 (0) 760 95 19 40
This information is information that Pandox AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above on 21 November 2017 at 08:30 CET.
Pandox is a leading owner of hotel properties in Northern Europe with a focus on sizeable hotels in key leisure and corporate destinations. Pandox’s hotel property portfolio currently comprises 122 hotels with approximately 27,000 hotel rooms in eleven countries. Pandox’s business is organised into Property management, which comprises hotel properties leased on a long-term basis to market leading regional hotel operators and leading international hotel operators, and Operator activities, which comprises hotel operations executed by Pandox in its owner-occupied hotel properties. Pandox was founded in 1995 and the company’s B shares are listed on Nasdaq Stockholm. www.pandox.se