Pandox purchases shares in Dalata Hotel Group
On June 20, 2025, Pandox Ireland DAC, part of the Pandox Consortium, confirmed the purchase of 1,698,112 ordinary shares of Dalata Hotel Group, at a price of €6.30 per share. This purchase represents approximately 0.8% of Dalata’s issued share capital.
Previously, the Pandox Consortium had made a non-binding proposal to Dalata on June 2, 2025, offering €6.05 per share in cash for the entire share capital of the Group. Dalata’s Board rejected the offer on June 3, stating that it undervalued Dalata and its prospects.
No new offer after initial proposal
Although the Pandox Consortium now holds approximately 9.6% of Dalata’s issued share capital, they have not submitted any further formal offer beyond the initial €6.05 per share proposal. Dalata’s Board continues to engage with other parties involved in its Formal Sales Process (FSP), which commenced on March 6, 2025.
Dalata’s Board advises shareholders to refrain from taking any action regarding the Pandox Consortium’s announcement. The Board is still in the process of engaging with parties that have submitted revised proposals to acquire the entire share capital of Dalata.
Irish takeover rules and next steps
According to Rule 2.6 of the Irish Takeover Rules, the Pandox Consortium must announce by July 15, 2025, whether they will proceed with a firm offer or not. This deadline may be extended only with the consent of the Irish Takeover Panel.
Dalata’s Board emphasizes that no definitive offers have been made at this stage and that the company remains in an “offer period” as defined by the Irish Takeover Rules. Dalata is a unique case, as analyzed by Adrien Lanotte, Senior Analyst at MKG Consulting, in a video providing all the key insights to understand the ins and outs of this story.
Dalata’s shareholders are advised to stay updated, as further announcements will be made as appropriate.
