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Zahid Group Increases Its Stake In Dalata Hotel Group To 9.77%

Published on Oct 28 2020 9:27 AM in Hotel tagged: Featured Post / Dalata / Zahid Group Holding

Zahid Group Increases Its Stake In Dalata Hotel Group To 9.77%

Saudi Arabia's Zahid Group has increased its stake in Dalata Hotel Group to 9.77%.

The news follows August's news that Zahid Group had built up a 4% stake in Dalata worth over €18 million and the subsequent revelation last month that Zahid's stake in the hotel group had increased to 8.05%, valuing it at €44.7 million and making Zahid Dalata's single biggest shareholder.

Current Stake Value

As reported by The Irish Times, with its increase to 9.77%, Zahid's stake in Dalata, which is held through a Luxmebourg-based subsidiary named Perpetua Holding Europe Sarl, is now worth close to €54 million, based on current market prices.

"A Lot Of Good Engagement"

The Irish Times quotes a Dalata spokesperson as saying that the hotel group has had "a lot of good engagement" with Zahid Group and that Dalata is "delighted to have [Zahid] as a shareholder".

© 2020 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.

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