Macfarlanes and Matheson advise Pandox AB on completion of acquisition of Dalata Hotel Group plc

Macfarlanes and co‑counsel Matheson advised Pandox AB in connection with its acquisition of Dalata Hotel Group plc. The transaction, which became effective on 7 November 2025, is valued at approximately €1.7bn (comprising a €1.4bn purchase price and c. €300m net debt). Under the arrangements announced, Pandox will retain 31 self‑owned investment properties in Ireland and the UK. Scandic will operate the retained properties under new long‑term, revenue‑based leases with minimum guaranteed levels, and is intended to acquire the full operating platform of 56 hotel businesses, including Dalata’s Clayton and Maldron brands. Macfarlanes represented Pandox AB with a team composed by: Partners Victoria Hills, Richard Burrows and Max Mittasch (transaction leads), assisted by Victor Chu, Maeve Sloan and Rhian Edwards; finance advice led by Partner Laura Bretherton with support from Scott Perry; tax advice provided by Partners Jeremy Moncrieff and Sarah Shucksmith with support from Beth Leggate; share incentives input from Partner Rasmus Berglund; real estate advice from Partner Dan Marriott with support from Tosin Ojukotola and Joe Mukozho; competition advice from Partner Malcolm Walton; and employment advice from Louise Pereira. Macfarlanes advised Pandox throughout the offer and acquisition process, including structuring and implementing the scheme of arrangement, engagement with the Irish Takeover Panel, regulatory and listing workstreams in Ireland and the UK, negotiation of transaction documentation, coordination with financial and communications advisers, the arrangement of a full “certain funds” acquisition finance facility and the post‑completion reorganisation of Dalata. Matheson acted as co‑counsel to Pandox AB, supporting the Pandox team in delivering this complex transaction.

Macfarlanes and Matheson advise Pandox AB on completion of acquisition of Dalata Hotel Group plc

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