Pandox, Eiendomsspar Bid €1.3 Billion for Dalata Hotel Group (2)

A consortium including Pandox AB and Eiendomsspar AS has submitted a non-binding bid for Dalata Hotel Group Plc, valuing the Dublin-based hospitality operator at €1.3 billion ($1.5 billion).

The bid value of €6.05 per share represents a 27.1% premium to Dalata’s stock before it announced a sale process in March, according to a statement Tuesday. Eiendomsspar already owns about 8.8% of Dalata’s shares.

Ireland’s largest hotel operator hired Rothschild & Co. to advise on options including a sale earlier this year, citing a lackluster share price that chairman John Hennessy said did not reflect the underlying value of the ...