pandox
Pandox Acquires The Midland Manchester in the UK for for £115 Million ($151.3 Million)
Pandox | October 15, 2018
Pandox AB (publ) ("Pandox") has entered into an agreement to acquire The Midland Manchester, which is an iconic upper premium hotel with 312 rooms in the heart of Manchester in the UK. The transaction is made with Fattal Hotels Group ("Fattal") as operating partner, whereby Pandox, following a legal reorganisation, will retain the property and the hotel operations will be transferred to Fattal. The total transaction value amounts to approximately MGBP 115, whereof the value of the hotel property amounts to MGBP 102, corresponding to approximately MSEK 1,210. The acquisition is expected to be financed by a new bank loan and existing cred...
Pandox Completes €400 Million Acquisition of 18 Hotels in Germany
Pandox | January 4, 2016
STOCKHOLM--January 4, 2016--Regulatory News: Pandox AB (STO:PNDXB) Pandox's acquisition of 18 hotel properties in Germany, which was communicated 5 December 2015, has been completed. The acquisition strengthens Pandox's position on the important German market. Final acquisition price amounts to MEUR 400 MEUR, corresponding to approximately MSEK 3,654 on a debt free basis including minority interest. Pandox consolidates the acquired hotels to 100 percent and reports these under the business segment Property Management, stating minority interest at the consolidated group level, in the balance sheet per 31 December 2015, and in the income ...
