Israel's hospitality group Fattal Holdings revealed a non-binding offer to buy London-listed PPHE Hotel Group Ltd. (PPH.L) for 22 pounds per share in cash, valuing PPHE at about 930 million pounds.
The 22-pound offer represents a 37.5 percent premium to PPHE's closing price of 16 pounds on May 26, and a 47 percent premium to its 15-pound price on November 13, before PPHE disclosed talks with investors, Fattal said.
Fattal, which holds about 4 percent of PPHE, submitted the proposal to PPHE's board on May 27 and will keep it open for four weeks.
The deal would be for all PPHE shares, not already owned by Fattal.
PPHE said on May 27 that its board had evaluated the proposal and determined it represented fair value, adding it would consult major shareholders to assess deliverability.
There is no certainty a firm offer will be made, Fattal said. It reserves the right to vary the terms, including introducing securities or cutting the price if PPHE pays a dividend.
PPHE operates 9,625 hotel rooms across the United Kingdom, Croatia, the Netherlands and Germany, with assets valued at 2.2 billion pounds as of December 2025, according to Fattal.
On the LSE, shares of PPHE Hotel Group Limited were gaining 23.57 percent, changing hands at 1,992.00 pence.
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