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ICAMAP and Ivanhoé's takeover offer for easyHotel becomes unconditional

ICAMAP Investments SÀRL and Ivanhoé Cambridge Inc.'s offer to acquire London-based easyHotel PLC is now wholly unconditional.

The partners, through Citrus UK Bidco Ltd., received valid acceptances that increased their aggregate shareholding to 99,350,698 shares, or 68.06% of easyHotel's issued share capital, surpassing the offer's acceptance condition, which was set at 50%.

EasyGroup Holdings Ltd. is understood to own 27.86% of easyHotel's issued share capital, and only 4.08% remains not owned by either easyGroup or Citrus.

The offer will remain open for acceptance until Oct. 1.