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The largest shareholders of hotel chain PPHE have said they are discussing options for the business, including selling a stake.
The company that runs the Park Plaza Hotel EuropeAs a result, shares saw a surge in early trading on Friday.
Its reports followed bloomberg This process can lead to the business becoming private.
Founder Elie Papouchado and PPHE president Boris Ivesha confirmed that they plan to “organize some small meetings with financial investors” on possible options for the business.
The shareholders, who own about 44% of the business, said options included investors “contributing growth capital to PPHE” and “potential partial monetization of their stake”.
In a statement, he said: “The shareholders are not in discussions with any parties and are not receiving any offer for their collective stake in PPHE.
“There can be no certainty that any such offer will be made.”
Israel The family trust of hotelier Mr Papouchado owns about 33% of the company.
The company, which had property assets worth £2.2bn at the end of last year, also runs sites under the Art’Otel brand, including locations in London. Battersea Power Station And Hoxton.
shares Trading rose 10.5% to 1,658p on Friday morning, giving the company a market valuation of around £695 million.