Dalata takeover of nine Moran Bewley hotels nears completion

Dalata has said its €455 million takeover of most of the Moran Bewley group will be completed tomorrow.

The State’s mergers watchdog last week approved the reverse takeover, which will see Dublin-listed Dalata take over nine Moran Bewley hotels in Ireland and Britain.

One hotel not included in the deal is the landmark Red Cow Hotel on Dublin's outskirts. Businessman Tom Moran, who founded the Bewley Moran chain, will keep this property.

Dalata shareholders approved the deal at meeting early in January.

In its stock exchange announcement Dalata said the acquisition will be completed by tomorrow.

It said applications have been made for the enlarged issued share capital to be admitted to trading on AIM and the ESM and it is expected that dealings in the Placing Shares will commence on February 4th. Red