Nordic consortium announces €1.4bn takeover of Dalata Hotel Group

The board of the company said they believe the acquisition is in shareholders best interests. Pictured: Deputy chief executive of Dalata Hotel Group Shane Casserly with the company's chief executive Dermot Crowley.

A consortium of nordic hotel companies has announced a €1.4bn takeover of Irish hotel company Dalata, following a previous failed attempt, which has been accepted by the company’s board.

In its announcement, Pandox AB and Eiendomsspar said they have, through a newly incorporated company Bidco, announced a firm intention to make a cash offer for the entire share capital of Dalata Hotel Group plc.