PPHE Hotel says Fattal bid ruled out, new early‑stage interest received

19th Jun 2026 07:26

(Sharecast News) - Hospitality business PPHE Hotel Group said on Friday that its independent committee had concluded that the £22 per share indicative offer from Fattal Hotel Group would not proceed after major shareholder Euro Plaza Holdings signalled its opposition.

PPHE Hotel entered an offer period in November 2025 after founder shareholders Eli Papouchado and Boris Ivesha began exploring options, including growth capital or a partial sale of their stakes. The board then launched a strategic review and began a formal sale process under a Takeover Panel dispensation.

Fattal submitted an indicative cash proposal in May, which the board judged to represent fair value. However, an independent committee was formed and consulted shareholders representing around 83% of the register, with Euro Plaza, which owns a roughly 33% stake in PPHE, telling the committee it opposed the deal.

Fattal has since said it will not proceed without Euro Plaza's support. As a result, the committee said the proposal was not deliverable in its current form.

PPHE added that it received a separate early‑stage approach from another party on 31 May, which was now being assessed.

The FTSE 250-listed firm said the strategic review has been thorough and will be concluded as soon as possible, while noting there was no certainty any offer will emerge.

As of 0810 BST, PPHE shares had shed 8.70% to 1,826p.

Reporting by Iain Gilbert at Sharecast.com

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