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Provider: Reuters Investment Profile
$20.00

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Dalata Hotel Group PLC enters into conditional agreements to acquire share capital in Qulpic and Zrko


Friday, 1 Aug 2014 11:39am EDT 

Dalata Hotel Group PLC:Enters into conditional agreements to acquire 25 pct of share capital in each of Qulpic Limited (Qulpic) and Zrko Limited (Zrko), together with associated loans from Durance Investments Limited for consideration of 21.8 mln euros.Qulpic and Zrko own Clyde Court and Ballsbridge Hotels respectively.Agreements are subject to pre-emption rights of remaining shareholders in Qulpic and Zrko.In addition, Agreements may, by virtue of related arrangements, also lead to Group acquiring up to 100 pct of share capital of Qulpic and Zrko together with associated loans on the same terms, although there can be no certainty that any such transaction will occur.Ballsbridge Hotel is 4 star hotel located in Dublin.Hotel contains 392 rooms as well as a bar, a restaurant, a ballroom and 13 conference rooms.Clyde Court Hotel is also a 4 star hotel located in Dublin.Hotel contains 185 rooms as well as a bar, a restaurant, a ballroom and 8 meeting rooms.