Takeover Of Moran Bewley's Hotel Group Approved
Published on Jan 30 2015 7:51 AM in Hotel
Dalata Hotel Group's takeover of Moran Bewley's Hotel Group has been officially green-lighted, according to the London Stock Exchange.
The Competition and Consumer Protection Commission (CCPC) has deemed the takeover bid to be within the confines of market fairness, and thus the deal can now formally be effected.
Dalata Hotel Group stated on 18 December 2014 it had agreed a price of €455 million for the nine hotels which fall under the portfolio.
The list of nine hotels is made up of four in Dublin, two in London, and one hotel in, respectively, Cork, Manchester, and Leeds.
The ownership of the Red Cow Moran Hotel and the Red Cow Inn Complex in Dublin will not be affected.