A consortium made up of property investors ICAMAP, from Luxembourg, and Ivanhoe Cambridge, from Canada, has announced that it had received enough acceptances of its 95p per share offer to give it a majority stake in the company.
Its offer values the company’s shares at £139 million.
The remaining shareholders have until September 17 to accept the offer, which has been recommended by easyHotel’s board as ‘fair and reasonable’ despite Sir Stelio’s claim that the consortium was ‘simply trying to steal this company from under the noses of other investors’.
On Wednesday, the bidding companies said they either hold or have received acceptances for shares carrying more than 50% of easyHotel’s voting rights.
In a statement at the time of the offer announcement Harm Meijer, Managing director of ICAMAP, said that the fund manager had been a shareholder since 2016 and supported two capital raising initiatives.
“However, we also believe that the company needs a change in its shareholder base in order for easyHotel to become a true leading pan-European budget hotel player,” he said.
