Sir Stelios blasts bidder for trying to ‘steal’ Easyhotel from under investors’ noses

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Sir Stelios said ICAMAP


Easygroup founder Sir Stelios blasts bidder for trying to ‘steal’ Easyhotel from under investors’ noses in latest attempt to fend off takeover

  • Easygroup founder Sir Stelios Haji-Ioannou has blasted fund manager ICAMAP 
  • He accused the company of trying to ‘steal’ Easyhotel from shareholders
  • He called for investors to join him in rejecting its current offer of 95p 

Easygroup founder Sir Stelios Haji-Ioannou has accused fund manager ICAMAP of trying to ‘steal’ Easyhotel from under investors’ noses, in his latest attempt to block a takeover of the business.

Sir Stelios – the man also behind Easyjet, Easygym and Easyproperty – said the company’s 95p-a-share offer for the value hotel chain did not reflect its value.

He said: ‘I think ICAMAP is simply trying to ‘steal’ this company from under the noses of other investors.’ 

Sir Stelios said ICAMAP’s 95p-a-share offer for the value hotel chain did not reflect its value

He added that he had tried to buy up more shares in easyHotel in an attempt to block the merger but was able to acquire less than 0.01 per cent of the share capital.

The tycoon has a 27.5 per cent stake in the group, but was only able to buy 10,000 additional shares at 95p each despite bidding up to 96p.

He claimed that the failure to find more sellers for 95p was ‘proof that the real value of an Easyhotel share today is well above ICAMAP’s offer’.

He repeated his called for all shareholders to join him in rejecting ICAMAP’s current offer of 95p.

His comments come as ICAMAP, the Luxembourg-based firm which has teamed up with another firm to table a £139million offer for easyHotel, built up its own stake to over 50 per cent.

The consortium still needs the support from 50 per cent of shareholders for the deal to go through, meaning it needs just another 6 per cent to take control. 

Shareholders have until 1pm on September 17 to accept the offer. 

The board of Easyhotel previously recommended the offer, saying it will allow the group to expand into more cities.     

 

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