PPHE Hotel Shares Plunge After Major Shareholder Blocks Fattal Hotel's GBP921 Million Offer
Shares in PPHE Hotel Group (PPH.L) fell sharply on Friday morning after the hospitality real estate group disclosed that its largest shareholder opposed a 920.9 million-pound-sterling cash takeover offer from Fattal Hotel Group, rendering the offer undeliverable in its current form.PPHE Hotel's stock was down over 18% in early morning trading in London.In May this year, Israel-based Fattal Hotel made an indicative proposal of 22 pounds per share for 100% of PPHE. At the time, the PPHE board determined that the proposal represented a fair value.However, Euro Plaza Holdings, which holds a 33% stake in the company, recently communicated its opposition to the takeover offer. Following this, Fattal Hotel advised the PPHE board that it was not prepared to proceed with the offer without Euro Plaza's support.As a result, PPHE's independent committee determined that the Fattal Hotel proposal is not capable of being delivered in its current form.The developments stem from a process that began in November 2025, when PPHE's founder shareholders, Eli Papouchado, who owns the stake through Euro Plaza, and PPHE Chief Executive and President Boris Ivesha, made public their intentions to partially monetize their stakes. Together, they control 44% of PPHE's voting rights.PPHE also mentioned Friday that subsequent to Fattal Hotel's offer, it had received interest from another party. However, the interest is "at a very preliminary stage," and there is no certainty that an offer will be made for the company.
