Pandox sells hotel to Mora

Pandox AB (publ) has entered into an agreement to transfer ownership of the hotel for Mora Hotel & Spa in Mora, Sweden. The buyer is Cibola Holding AB. The value of the transaction amounts to approximately MSEK 114 before deferred tax. The transfer of ownership is planned for May 2, 2022.

“We are pleased to have agreed to an assignment of Mora Hotel & Spa with Cibola, which we believe has the best possibilities to further develop the hotel heritage. The transaction complies with The pandoxes portfolio optimization strategy with a focus on hotel properties in strategic locations. The transfer takes place at an attractive price, which exceeds The pandoxes internal evaluation,” says Liia Nõu, CEO of pandox.

Mora Hotel & Spa has 140 rooms with an independent operator as tenant. Hotel real estate is included in the Property Management business segment and the transaction is carried out by the sale of shares in a real estate company. The asset will be classified as “Assets held for sale” in The pandoxes the consolidated statement of financial position until the transfer of ownership is completed.

FOR MORE INFORMATION PLEASE CONTACT:

Liia Nõu, vd, +46 (0) 702 37 44 04
Erik Möller, SVP Director Property Management Nordics, +46 (0) 707 73 35 65Anders BergCommunication and IR Manager, +46 (0) 760 95 19 40

The information has been submitted for publication, through the contact persons listed above, to 6.15pm CET to March 31, 2022.

On pandox
pandox is one of the main owners of hotels in North Europe with a focus on large hotels in key leisure and business destinations. The pandoxes The hotel real estate portfolio currently comprises 157 hotels with approximately 35,500 hotel rooms in 15 countries. The pandoxes The business is organized into Property Management, which includes hotel properties leased on a long-term basis to the market’s leading regional hotel operators and leading international hotel operators, and Operator Business, which includes hotel operations executed by pandox in its owned hotel properties. pandox was founded in 1995 and the company’s B shares are listed on Nasdaq Stockholm. www.pandox.se

https://news.cision.com/pandox/r/pandox-divests-hotel-property-in-mora,c3537403

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