Brief: First Hotels To Consider Divestment Of Subsidiary First Hotels International

Hotel Fast SSE AB (publ)

07/11/2024 13:25

Nov 7 (Reuters) - First Hotels AB (publ)  HOTEL.ST :
    * UPDATES ITS STRATEGY
    * RECEIVES AN OFFER TO SELL ALL SHARES IN ITS SUBSIDIARY
FIRST
HOTELS INTERNATIONAL AS
    * TO CONSIDER DIVESTMENT OF ITS OPERATING COMPANY THAT
OPERATES
HOTEL FIRST HOTEL PLANETSTADEN IN LUND, SWEDEN
    * DIVESTMENTS WILL ENABLE COMPANY TO REDUCE OVERHEAD AND
MANAGEMENT COSTS TO A MINIMUM
    * BALANCE SHEET HAS VERY EXPENSIVE DEBT THAT BOARD DOES NOT
CONSIDER SUSTAINABLE UNDER CURRENT CONDITIONS

Source text:  ID:nMFN5dWlmN 
Further company coverage:  HOTEL.ST 

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