17th Sep 2019 18:06
(Alliance News) - ICAMAP Investments Sarl on Tuesday said Citrus UK Bidco Ltd has now received valid acceptances from easyHotel shares representing 68.1% of the firm's issued share capital.
The Citrus consortium values easyHotel's share capital at GBP138.7 million and gave the company an enterprise value of GBP126.1 million, when it announced its intention to acquire the hotel chain in August. The 95.00 pence per share offer became unconditional later that month.
If Bidco receives acceptances of easyHotel shares carrying 75% of more of its firm's voting rights, Bidco intends to cancel easyHotel's AIM listing.
The offer will remain open for acceptances until October 1. easyHotel shares closed untraded at 94.50p in London on Tuesday.
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