International hotel group PPHE (LON:PPHE) revealed it had received a cash bid valuing the company at £930 million. The board said it had considered the bid, and thought it represented fair value. The proposal, from Fattal Holdings, prices the shares at £22 each, a 36% premium to the previous close of £16.12.
Shareholder pressure
In November last year, PPHE announced it had started a strategic review ‘to improve shareholder value or introduce growth capital’. Among the options on the table was putting the company up for sale.
The review was prompted by the group’s two biggest shareholders, with a combined 44% of the voting rights, holding private talks with investors over a ‘partial monetisation’ of their stakes.
In February 2026, PPHE announced it was selling a New York development site, signalling the end of its US growth plans. The group sold the site, which it had earmarked for a hotel and condominium complex, for $33.5 million.
Fattal Group has handed investors in PPHE a get-out-of-jail-free card, in our view. The last time the shares traded at £22 was before the pandemic, although they did nudge £20 earlier this year.
Fattal, which already owns 4% of PPHE shares, aims to put a deal together in the next four weeks. The board thinks the price represents fair value, hopefully the two ‘whales’ agree as we can’t see another bid emerging.
Read the press release here:
https://www.pphe.com/investors
