ICAMAP Investments SÀRL, a member of a consortium seeking to acquire London-based budget hotel operator easyHotel PLC, agreed to acquire 2,595,724 shares of easyHotel at the offer price of 95 pence per share.
The consortium, which includes Ivanhoé Cambridge Inc. unit Cadim Fonds Inc., will hold or have received acceptances representing more than 50% of easyHotel shares once the ICAMAP acquisition closes, expected on Aug. 23.
EasyHotel shareholders have until Sept. 17 to accept the consortium's takeover offer.
