Statement re Acquisition of Ballsbridge Hotels

RNS Number : 8791S

Dalata Hotel Group PLC

29 September 2014

 

29 September 2014

Dalata Hotel Group plc

("Dalata" or the "Company" or the "Group")

Acquisition of

Shareholdings in Qulpic and Zrko

On 1 August 2014 Dalata announced its conditional agreements to acquire 25% of the share capital in each of Qulpic Limited ("Qulpic") and Zrko Limited ("Zrko"), together with associated loans from Durance Investments Limited ("Durance") subject to certain pre-emption rights of the existing shareholders.   Qulpic and Zrko own the Clyde Court and Ballsbridge Hotels respectively.

Dalata have been informed that existing shareholders Ulster Bank Ireland Limited and ACC Loan Management Limited have exercised their pre-emption rights and applied to purchase all of the relevant securities from Durance.

Consequently Dalata will not now acquire any shareholding in Qulpic and Zrko.

Enquiries:

Dalata Hotel Group plc

Dermot Crowley, Deputy CEO Business Development and Finance

Tel: [phone]

Davy

Anthony Farrell

Tel: [phone]

PR

Padraig McKeon 

Tel: [phone]

www.dalatahotelgroup.com

 

END

 

 

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