Norwegian Property said on Wednesday it is still in talks with the consortium of unnamed buyers regarding the sale of Norgani Hotels chain, but added that it is to consider other expressions of interest after the exclusivity period with the original bidding group expired.
Norwegian Property said on Wednesday it is still in talks with the consortium of unnamed buyers regarding the sale of Norgani Hotels chain, but added that it is to consider other expressions of interest after the exclusivity period with the original bidding group expired.
'Norwegian Property confirms that it is still in process of reaching a final share purchase agreement, but has experienced some delays caused by more detailed due diligence work than expected in phase one and buyers' formal financing,' the company said. The period of exclusivity ran until mid-May. The Oslo-listed company, which is being advised on this sale by SEB Enskilda, said the possible new bids will be considered in parallel with the original one.
Earlier this month Norwegian Property said it had signed a letter of intent with an unnamed group of buyers regarding the sale of Norgani for EUR 1.4bn.
