Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

AHG gets clearance for De Vere takeover

17 July 2006
AHG gets clearance for De Vere takeover

Hotel and leisure group De Vere has been given the green light by the Pensions Regulator for its proposed takeover by the Alternative Hotel Group (AHG).

As a result, the De Vere directors will unanimously urge shareholders to accept AHG's third bid of 875p per share at an extraordinary general meeting that will be held on 18 August.

AHG will take over De Vere (which operates 19 De Vere hotels, 155 timeshare lodges and 16 Village hotels and leisure clubs) through a court-approved scheme of arrangement that will also take place on 18 August.

The details of the scheme will be posted to De Vere shareholders by next Monday (24 July).

AHG, which also owns Verve Venues (formerly Initial Style Conferences), was set up by the directors of Marylebone Warwick Balfour, owner of the Malmaison and Hotel du Vin boutique hotel brands.

AHG tables higher bid for De Vere >>

Permira in running for De Vere >>

De Vere website >>

By Angela Frewin

Get your copy of Caterer and Hotelkeeper every week -

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking