Newly formed firm to become majority shareholder in easyHotel

Citrus UK Bidco, a newly incorporated company owned by a consortium of Cadim Fonds Inc (part of Ivanhoe Cambridge and ICAMAP Investments Sarl) is to acquire 2,595,724 easyHotel shares at a price of £0.95 per share.

Following completion of this acquisition, expected to occur on 23 August 2019, Citrus UK Bidco will carry more than 50% of the voting rights at a easyHotel general meeting.

UK-headquartered easyHotel currently owns twelve super budget hotels and 1,340 rooms, and there is a further 26 franchised hotels and 2,293 rooms.