Get the app today! Download iPhone App Download Android App

SUBSCRIBE

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.

Share on Facebook Share on Twitter Share on LinkedIn Share via Email