PPHE Hotel Group Limited (PPH.L) on Friday said its board has launched a strategic review to assess a range of options aimed at maximising value for shareholders. As part of the process, the board will consider steps such as introducing new growth capital into the business or its portfolio, or pursuing a potential sale of all or part of the company through a Formal Sale Process.
Major shareholders Eli Papouchado and Boris Ivesha, who together hold about 44% of the company's voting rights, have expressed their support for the review. PPHE has appointed Rothschild & Co as financial adviser for the strategic review and any related sale process.
The company said it is not in active discussions with any potential offeror and has not received any approach as of the date of the announcement. PPHE added that it intends to run a targeted process focused on parties that recognise and value the full potential of the business.
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