A short summary of the most important acquisitions and divestments are presented below.
Pandox acquires seven hotel properties, of which four in Germany, two Austria and one in the Netherlands for approximately MSEK 4,100.
Pandox acquires Hilton Grand Place Brussel for MEUR 55.
Pandox divests 8 hotel properties in Sweden for MSEK 850.
Pandox acquires 18 hotel properties in Germany, mainly under the Leonardo brand, for approximately MSEK 3,700. Pandox divests Scandic Antwerpen for MEUR 16.
Pandox divests a portfolio of 14 hotels in Sweden to Fastighets AB Balder and the Hilton Docklands Hotel in London to H.I.G. Capital. Total proceeds from the divestments amounted to approximately MSEK 2,700.
Pandox announces the acquisition of Norgani Hotels, with a portfolio of 72 hotel properties across Sweden, Finland, Norway and Denmark, in a transaction valued at approximately MSEK 10,000. As a result of the acquisition, Pandox becomes one of Europe’s leading hotel property companies.
Pandox continues its international expansion with two hotel acquisitions in Montreal, Canada.
Pandox divests 12 hotel properties to Norgani Hotels.
Pandox is acquired by the industrial investors Eiendomsspar AS and Sundt AS through a public offer. The shares were subsequently de-listed. After the privatisation, Pandox grew in scale as it acquired several large hotels in Berlin, Brussels, Basel, Copenhagen, Stockholm and Malmö.
Pandox expanded its geographical footprint to other parts of Northern Europe through the acquisition of Hotellus, the property owning company of Scandic, with a total of 16 hotel properties.
Read more about Pandox's history