Norges Bank takes 3 per cent stake in Dalata as hotel group bounces back

The hotel group had a recent share price slump but is now benefiting from loosening of pandemic restrictions

Barry J Whyte

Chief Feature Writer @whytebarry
12th September, 2021
Norges Bank takes 3 per cent stake in Dalata as hotel group bounces back
Pat McCann, Dalata’s chief executive left, is expected to step down in October of this year, to be replaced by Dermot Crowley right. Picture: Maxwells

Norges Bank, which manages the Norwegian national pension fund, has taken a 3 per cent stake in Dalata, the hotel group, which is worth nearly €24 million at the company’s current share price.

The Norwegian investment fund, which is highly influential on environmental and governance matters, previously held no notifiable stake in the company, according to stock exchange filings.

It comes amid a recent slump in Dalata’s share price, from a high this...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Related Stories

Profits up 38% at Conor McGregor’s Irish firm as cash pile grows by €9.5m

Out of Office: Aer Lingus defends cost-cuting; 200 jobs created in Galway

Companies Donal MacNamee 22 hours ago

Salesforce chief executive Benioff is centre stage again

Companies Emmet Ryan 1 day ago

EY to create 816 new jobs across Ireland