MANDATE

Vinge has advised Pandox in connection with acquisition and directed share issue

Jan. 24, 2018

Vinge has advised Pandox Aktiebolag (publ) with certain financing and capital markets related questions in connection with the acquisition of 37 hotel businesses in the UK and Ireland which Pandox announced on 13 December 2017. The acquisition price amounted to approximately GBP 800 million.

Vinge has further advised Pandox in connection with the directed share issue of 10,000,000 class B shares that Pandox announced on 15 December 2017. The subscription price was set to SEK 148 per share, whereby Pandox obtained in total SEK 1,480 million, through an accelerated book-building process. The share issue was directed to Swedish and international institutional investors and the purpose of the share issue was to, in a timely and cost efficient manner, enable a capital raising to finance acquisitions and thereby increase the company’s financial flexibility and mandate for continued value creation.

Pandox is a leading owner of hotel properties in Northern Europe with a focus on sizeable hotels in key leisure and corporate destinations. The company’s shares are admitted to trading on Nasdaq Stockholm, Large Cap.

Vinge’s team primarily consisted of Jesper Schönbeck, Sofie Bjärtun and Nils Fredrik Dehlin with regard to the directed share issue and other capital markets related questions, and Louise Brorsson Salomon, Helena Håkansson, André Isacson, Lionardo Ojeda and Pauline Lagerstrand, with regard to financing related questions.