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It is in a message on Friday afternoon to the Swedish Nasdaq stock exchange, where Dome Energy AB is listed, that the company states that it has entered into an agreement to buy the shares in the hotel chain First Hotels International as.
The First company, which is the franchise platform that owns the First brand and runs the marketing of the First chain, was until recently wholly owned by Asmund Haare. He recently sold down to 37.5 percent. A company owned by Pål Mørch came in, Kristian Lundkvist and Espen Aubert own the rest.
Hotel owner Asmund Haare gets rid of his latest Oslo hotel
According to the announcement from Dome Energy, the takeover will take place through a share issue without the use of cash where the current First owners will remain with 80 percent of the shares in the new company and the Dome owners the rest.
There are currently 33 First Hotels International hotels in Norway, Sweden and Denmark with franchise agreements.
Corona breast
Revenues in the First company fell from NOK 79 million in 2019 to NOK 40 million last year. Profit before tax fell from plus six to minus NOK 37 million, the report states.
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«Once a final agreement has been entered into, the board will convene an extraordinary general meeting to decide on a non-cash issue, amendment of the articles of association, reduction of the share capital, new name and new board. The final agreement will, among other things, be conditional on the approval of the general meeting and that Nasdaq approves that the Dome is resumed trading in First North “, it is stated in the announcement.
Thomas Gillespie, acting CEO of First International as, is quoted as saying that First Hotels «will challenge the traditional model for hotel chain operations according to market needs. In a postcorona market, the premises for a profitable hotel business for hotel chains, hotel owners and hotel management companies will change, and First Hotels will take a clear position in this development. (…) With an already well-established brand and a platform, we will offer hotel owners and operators a wide range of services and together build a solid foundation for a common future. “(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other form of use of all or part of the content, can only take place with written permission or as permitted by law. For additional terms look here.
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