Completion of the offer for Arenaturist

RNS Number : 3899X

PPHE Hotel Group Limited

05 May 2016

 

 

5 May 2016

PPHE Hotel Group Limited

PPHE Hotel Group announces completion of the offer for Arenaturist

PPHE Hotel Group Limited (the Company), which together with its subsidiaries (the Group) owns, leases, develops, operates and franchises full service upscale and lifestyle hotels in major gateway cities and regional centres, predominantly in Europe, is pleased to announce the results of the Offer for Arenaturist d.d. (Arenaturist).

As previously announced, the Group acquired the remaining 80% interest, which it did not previously own, in its joint venture in Croatia. The joint venture indirectly owned 74.15% of the issued share capital of Arenaturist a Croatian public company whose shares are traded on the Zagreb Stock Exchange.  As a result, the Company was required to make a mandatory takeover offer (the Offer) for the outstanding share capital of Arenaturist. The Offer was announced on 29 March 2016 and closed on 27 April 2016. The Group acquired 75,980 shares of Arenaturist pursuant to the Offer.

Following completion of both the Offer and the share sale to the institutional investors, as announced by the Company on 29 April 2016, the Group now owns 1,432,343 shares of Arenaturist representing 65.63% of its issued share capital.

Arenaturist's financial results will be fully consolidated within the Group's financial statements going forward.

A copy of the full takeover documentation, in Croatian, is available from the Zagreb Stock Exchange website www.zse.hr.

Enquiries:

PPHE Hotel Group Limited
Boris Ivesha, President & Chief Executive Officer	Tel: [phone]
Chen Moravsky, Deputy Chief Executive Officer & Chief Financial Officer	Tel: [phone]
Hudson Sandler  - UK press enquiries	Tel: [phone]
Wendy Baker / Katie Matthews Madison Consulting - Croatian press enquiries Mladen Hrgarek / Svebor Gretic	Tel: [phone]

Notes to editors

PPHE Hotel Group Limited is a Guernsey registered company and through its subsidiaries, jointly controlled entities and associates, owns, leases, operates, franchises and develops full service upscale and lifestyle hotels in major gateway cities and regional centres, predominantly in Europe.

The majority of the Group's hotels operate under two distinct brands, Park Plaza^® Hotels & Resorts and art'otel^®. The Group has an exclusive licence from Carlson, a global privately held hospitality and travel company, to develop and operate Park Plaza^® Hotels & Resorts in Europe, the Middle East and Africa. The art'otel^® brand is fully owned by the Group.

The Group has a majority ownership interest in the Arenaturist group, one of Croatia's leading hospitality companies.

The portfolio of owned, leased, managed and franchised hotels comprises 38 hotels in operation offering a total of more than 8,300 rooms. The development pipeline includes five new hotel projects and one hotel extension and reconfiguration. These developments are expected to add nearly 1,100 rooms to our portfolio by the end of 2016 and an additional 500 rooms by the end of 2019.

Our Company:

www.pphe.com

Our Hotel Brands:

www.parkplaza.com

www.artotels.com

www.arenaturist.com

For images and logos visit www.vfmii.com/parkplaza

Forward-looking statements

This trading statement may contain certain "forward-looking statements' which reflect the Company's and/or the Directors' current views with respect to financial performance, business strategy and future plans, both with respect to the group and the sectors and industries in which the group operates. Statements which include the words "expects", "intends", "plans", "believes", "projects", "anticipates", "will", "targets", "aims", "may", "would", "could", "continue" and similar statements are of a future or forward-looking nature. All forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or will be important factors that could cause the group's actual results to differ materially from those indicated in these statements. Any forward-looking statements in this interim management statement reflect the group's current views with respect to future events and are subject to risks, uncertainties and assumptions relating to the group's operations, results of operations and growth strategy. These forward-looking statements speak only as of the date of this interim management statement. Subject to any legal or regulatory obligations, the Company undertakes no obligation publicly to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. All subsequent written and oral forward-looking statements attributable to the group or individuals acting on behalf of the group are expressly qualified in their entirety by this paragraph. Nothing in this publication should be considered as a profit forecast.

 

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