Dalata shares climb 5% even as Clayton and Maldron hotels firm says would-be shares buyer ends interest        

John Hennessy, chairman of Dalata, and Pat McCann, chief executive of Dalata. File picture: Maxwells 

Shares in Dalata Hotel Group climbed 5% even as Ireland's largest hotel group and owner of the Clayton and Maldron chains said a would-be purchaser of a significant stake in the company had walked away. 

The brief stock market announcement did not reveal the identity of the European corporate entity other than saying that investment bank JP Morgan had worked as an intermediary to seek out potential shareholders to buy €110m worth of Dalata shares from existing shareholders at between €3.50 and €3.75. However, the purchaser opted not to go ahead for reasons that were not explained.