Saudi Arabian family takes 4% stake in Dalata

The cost of the stake in the listed hotel group was a reported €19.2 million

Barry J Whyte

Chief Feature Writer @whytebarry
23rd August, 2020
Saudi Arabian family takes 4% stake in Dalata
Pat McCann, Chief Executive, Dalata who last month announced that it had renegotiated its loans with its lenders ahead of its plans to reopen its 44 hotels

A well known Saudi business family has built up a 4 per cent stake worth more than €18 million in Dalata, the listed hotel group.

The Zahid family spent more than €19.2 million buying a stake in the company in two separate tranches, through their Dubai-based Zahid Group Holding company.

When the firm bought the stake, the company’s shares were trading at just below €2.60. Since then, the shares have fallen slightly to around €2.45, valuing...

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