PPHE Hotel Group begins review, sale among options
Hospitality real estate firm PPHE Hotel Group Ltd. has launched a strategic review aimed at maximising value for shareholders, with options on the table including fresh growth capital, portfolio actions, or a potential sale of all or part of the group.
PPHE said on Friday that the review would take into account shareholder and stakeholder views, with major investors Eli Papouchado and Boris Ivesha, together holding around 44% of voting rights, already backing the process.
The FTSE 250-listed firm stated that in the event of a firm offer being announced, asset valuation reports in accordance with Rule 29 of the Code will be published in due course and by no later than publication of the scheme document or offer document.
PPHE also noted that Rothschild & Co has been appointed as financial adviser to support the review and any formal sale process.
As of 0920 GMT, PPHE Hotel Group shares were up 1.47% at 1,798p.
Reporting by Iain Gilbert at Sharecast.com
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