11th Feb 2021 17:08
(Alliance News) - JPMorgan AG said Thursday it was recently asked to invest up to EUR110 million in Dalata Hotel Group PLC on behalf of an unnamed European client, but the client has since pulled out of the purchase.
The US investment bank's German office said it was employed to act as dealer-manager to intermediate the purchase of an investment in Dalata by a European corporate, with multiple minority holdings, at a price between EUR3.50 to EUR3.75 - with a total investment of up to EUR110 million.
Shares in Dalata closed 2.9% higher in London on Thursday at 308.50 pence each.
"The purchaser engaged with certain shareholders of the company to solicit interest regarding the potential purchase, however it has decided not to proceed with the purchase at this time," JPMorgan added.
By Paul McGowan; [email protected]
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