Hotel buy-up set for Amsterdam IPO
A hotel fund which aims to raise €100m to buy up hotels in western Europe, will be launched on the Amsterdam stock exchange on Thursday, the Financieele Dagblad reports.
The fund, Pehac or Pan European Hotel Acquisition Company, is unusual for Amsterdam in that it is a ‘blank cheque’ company, the paper says. If no or not enough hotels are bought within 18 months investors will get their money back.
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