Following questions from the media, Pandox confirms that the company has entered a negotiating phase concerning the possibilities for acquisition of a hotel portfolio in London, with a corresponding value of approximately €260m.
They have stressed that current negotiations may not necessarily lead to an agreement, and that it is not certain that the transaction will be successfully concluded.
Their business model is integrated and sustainable and is based on property management, property development and continuous optimisation of the portfolio, which together contribute to increased cash flows, higher property values and a good return on invested capital. Through acquisitions, they can grow earnings short term and add new developable hotel properties for increased value creation long term.
More information will be provided when deemed appropriate or when an obligation arises.