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Scandic Hotels Group — M&A Activity 2017
Nov 22, 2017
3108_rns_2017-11-22_0a07f80c-b7ca-47dd-9b0f-4846a40612cc.pdf
M&A Activity
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PRESS RELEASE 22 November 2017
Extension of review regarding acquisition of Restel's hotel operations
The Finnish Competition Authority has today announced that the review of Scandic Hotels Group's ("Scandic") proposed acquisition of Restel's hotel operations in Finland will be extended until 5 December 2017.
The Finnish Market Court has ruled that the Finnish Competition Authority's period of review for Scandic's proposed acquisition of Restel's hotel operations in Finland will be extended from 24 November to 5 December 2017.
Scandic announced its proposed acquisition of Restel on 21 June 2017 and on 24 August, the Competition Authority announced that it would initiate further proceedings of the acquisition.
Scandic still expects the transaction to close late Q4 2017.
For more information, please contact:
Jan Johansson, Chief Financial Officer Email[: [email protected]](javascript:DeCryptX() Phone: +46 70 575 89 72
Henrik Vikström, Director Investor Relations Email[: [email protected]](javascript:DeCryptX() Phone: +46 709 52 80 06
This information is information that Scandic Hotels Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15.00 CET on November 22.
About Scandic
Scandic is the largest hotel company in the Nordic region with 15,000 team members and a network of close to 230 hotels with about 45,000 hotel rooms in operation and under development. Scandic Friends is the biggest loyalty program in the Nordic hotel sector with 2 million members. Corporate responsibility has always been a part of Scandic's DNA and Scandic has been named Best Hotel Brand in the Nordic countries (BDRC). Since December 2, 2015, Scandic has been listed on Nasdaq Stockholm. www.scandichotelsgroup.com