29th Sep 2014 13:27
LONDON (Alliance News) - Irish hotel operator Dalata Hotel Group PLC Monday said it will no longer buy 25% stakes in Qulpic Ltd and Zrko Ltd, after existing shareholders in the companies exercised their pre-emption rights and bought the shares from Durance Investments Ltd.
Dalata said Ulster Bank Ireland Ltd and ACC Loan Management Ltd exercised their pre-emption rights on the shares being sold by Durance, meaning it will no longer buy the stakes in the two companies.
Qulpic owns the 4 star Clyde Court hotel in Dublin, while Zrko owns the 4 star Ballsbridge Hotel, also in Dublin.
Dalata shares were down 0.3% to 30.397 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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