PANDOX DIVESTS EIGHT HOTELS ACROSS SWEDEN

Pandox has signed an agreement with Midstar AB that will see the Stockholm-based group divest a portfolio of eight hotels in regional cities across Sweden. The portfolio totals 965 guest rooms and the acquisition price is SKr850 million/SKr880,800 per room (approximately €90 million/€93,000 per room), after deferred tax – Midstar will acquire the shares in each hotels' property owning company. The deal is expected to close on 31 March 2016, and the agreement includes a rental guarantee from Pandox in favour of the buyer for three years.

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