First Hotels looks set to be the next hotel chain to be listed in Stockholm. A listing process is currently underway following a major change of ownership involving the hidden billionaire Mikael Andersson.
The idea is for First Hotels to take over oil and gas company Dome Energy's place on First North through a so-called reverse acquisition. First Hotels currently operates around 30 franchise hotels in the Nordic region.
Recently, the Norwegian investment company Flying Elephant sold 37.5 percent of the shares in the hotel chain to ALM Investments, which now owns 100 percent.
The plan is now for First Hotels to become the second pure-play hotel company on Nasdaq in Stockholm. The acquisition agreement between Dome Energy and the owners of First Hotels International is expected to be signed shortly, according to a press release.
What remains after that is approval from Nasdaq First North, an exemption from the Swedish Securities Council and approval of an extraordinary general meeting.
”"We are pleased that this interesting deal now appears to be coming to fruition. With a dedicated principal owner, the opportunities open up for a new exciting company on the stock exchange and for expansion and new business," says Dome Energy's Chairman of the Board Håkan Gustafsson in a statement.
The former oil and gas company, with around 2,600 shareholders according to Holdings, has previously communicated that the acquisition of First Hotels will consist of shares in the company where the sellers of First Hotels will be allocated 80 percent of the shares through a non-cash issue. Existing shareholders of Dome will own approximately 20 percent of the company. No purchase price will be paid according to what has been communicated.
Di has been in contact with Dome Energy's chairman of the board Håkan Gustafsson, who declines to comment further on the deal.
The largest owner of Dome Energy is the real estate company Kvalitena, with 23.5 percent of the votes and capital. Kvalitena is in turn wholly owned by the notorious hidden billionaire Mikael Andersson, who is also the largest shareholder in the real estate company Oscar Properties.
Kvalitena also does not want to answer questions from Di regarding the deal.
Scandic Hotels has been listed on the Stockholm Stock Exchange for some time. Since the outbreak of the pandemic, the share has fallen by around 60 percent. However, so far this year it has risen by 2 percent.
Source: DI.SE
