REG - Dalata Hotel Group - Statement re Acquisition of Ballsbridge Hotels <Origin Href="QuoteRef">DHG.I</Origin>

Dalata HotelAnnouncement

29/10/2014 15:17

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: +353 (0)1 206 9400
Davy
Anthony Farrell
Tel: +353 (0)1 679 6363
PR
Padraig McKeon
Tel: +353 (0)87 231 2632
www.dalatahotelgroup.com

This information is provided by RNS
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