Matheson has advised Pandox AB on the separation and sale of the hotel operations business of the Dalata Hotel Group to Scandic Hotels Group AB.
The completion follows Pandox’s acquisition of Dalata in 2025, on which Matheson also advised and which represented a significant expansion of Pandox’s portfolio in Ireland and the UK. Matheson has advised Pandox throughout the process, including on the offer, acquisition and completion.
Following the divestment, Pandox retains Dalata’s hotel property business, comprising 32 hotel properties in Ireland and the UK. The properties are let under 30-year revenue-based lease agreements with minimum guaranteed rent levels with Scandic. The purchase price is based on an underlying enterprise value of €500m, with final cash consideration subject to customary adjustments for cash, debt and working capital.
The Matheson team was led by partners Fergus Bolster (Corporate M&A), Maireadh Dale (Finance and Capital Markets) and Aidan Fahy (Tax), working alongside Macfarlanes as co-counsel on UK law matters and Arthur Cox as co-counsel on Irish property matters.
The Matheson team also included partners Matthew Broadstock (Tax) and Rachel Barry (Employment), senior associates Alan McMullan and Anna O’Carroll (Corporate M&A), Bronagh McAuliffe (Finance and Capital Markets) and Chloe Power (Tax), associates Lauren McBrien and Aoife O’Neill (Corporate M&A), Tom O’Donnell (Finance and Capital Markets), Ciaran Cronin and Patrick Heron (Tax) and trainee lawyers Annie Bea Spearman, Ryan Byrne, Lucy Slattery and Jack Brennan.
Commenting on the transaction, Fergus Bolster said: “We are very pleased to have advised on this significant transaction, working with the fantastic Pandox team, co-counsel and other professional advisors. It is transactions like this which allow us to demonstrate our commitment to excellence, the strength and depth of our expertise and which validate Matheson’s position as the advisor of choice for internationally focused companies doing business in and from Ireland.”
With a wealth of experience across our six partner led offices worldwide, Matheson has some of the most experienced corporate lawyers in Ireland. This successful transaction is a further example of the strength and depth across our market-leading Corporate M&A team and our experience delivering for clients on complex and innovative domestic and international corporate transactions across all industry sectors.
For more information about our legal services, please contact a member of the Corporate M&A team or your usual Matheson contact.
