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BRIEF-Scandic Hotels buys Restel's hotel portfolio ​
June 21, 2017 / 5:36 AM / 3 months ago

BRIEF-Scandic Hotels buys Restel's hotel portfolio ​

June 21 (Reuters) - SCANDIC HOTELS GROUP AB

* SCANDIC HOTELS GROUP AB - ‍ACQUISITION PRICE OF TRANSACTION IS EUR 114.5 MILLION ON A CASH AND DEBT-FREE BASIS AND WILL BE PAID IN CASH.​

* SCANDIC HOTELS GROUP AB - ‍TO ACQUIRE RESTEL‘S HOTEL PORTFOLIO AND BECOME LEADING HOTEL OPERATOR IN FINLAND​

* SCANDIC HOTELS - ‍IN EVENT OF AN UNSATISFACTORY REGULATORY OUTCOME, SCANDIC MAY TERMINATE DEAL SUBJECT TO PAYMENT OF A EUR 5 MILLION TERMINATION FEE​

* SCANDIC HOTELS -EXPECTS ‍ACQUIRED OPERATIONS HAVE POTENTIAL TO GENERATE AN ADJUSTED EBITDA MARGIN HIGHER THAN GROUP‘S LONG-TERM FINANCIAL TARGET OF 11%​

* SCANDIC HOTELS GROUP AB - ‍TOTAL INTEGRATION AND TRANSACTION COSTS ARE ESTIMATED TO AMOUNT TO APPROXIMATELY EUR 25 MILLION​

* SCANDIC HOTELS GROUP AB - ‍TRANSACTION IS EXPECTED TO INITIALLY HAVE A NEGATIVE EFFECT ON SCANDIC‘S EARNINGS PER SHARE​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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