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PPHE Hotel Group’s proposed takeover by Fattal Hotel Group has fallen through after a major shareholder opposed the offer.
Fattal had submitted an indicative proposal to acquire PPHE for £22 per share, a price that the company’s independent committee and advisers concluded represented fair value. The proposal formed part of a strategic review launched by PPHE in November 2025 to explore options for maximising shareholder value.
However, Euro Plaza Holdings, which owns approximately 33% of PPHE’s issued share capital, informed the committee that it opposed the proposal. Fattal subsequently advised the board that it would not proceed with an offer without Euro Plaza’s support.
As a result, the independent committee concluded that the proposal could not be delivered in its current form, bringing an end to Fattal’s pursuit of the company.
The strategic review was initiated after Eli Papouchado and Boris Ivesha, founder shareholders, who together control around 44% of PPHE’s voting rights, held discussions with financial investors regarding a range of options, including growth capital and a potential monetisation of part of their holdings.
PPHE said the formal sale process remains ongoing and revealed that it received a separate indicative proposal from another interested party on 31 May 2026. The company said this interest remained at an early stage and was under assessment.
The board added that, following more than seven months of review, it intends to conclude the process as quickly as possible. It cautioned that there remained no certainty that any offer for the company would be made.
