Decision Nº M/14/037 from Competition and Consumer Protection Commission, 2015-01-13

Decision NumberM/14/037
PartiesDalata Hotel Group p.l.c.,The Pillo Hotel, Galway
StatusCleared (Phase 1)
M/14/037-Dalata/Pillo Hotel 1
DETERMINATION
OF
MERGER
NOTIFICATION
M/14/037
-
DALATA
/
PILLO
HOTEL
Section 21 of the Competition Act 2002
Proposed acquisition of Pillo Hotel Galway by Dalata Hotel Group p.l.c.
Dated 13 January 2015
Introduction
1. On 5 December 2014, in accordance with section 18(1) of the Competition Act
2002 as amended (“the 2002 Act”), the Competition and Consumer Protection
Commission (“the Commission”) received a notification of a proposed transaction
whereby Dalata Hotel Group p.l.c. (“Dalata”) would acquire certain assets,
namely the Pillo Hotel.
1
The Proposed Transaction
2. The proposed transaction is pursuant to (i) a Business Transfer Agreement
between Slyne Properties Limited (In Receivership), Receivers Kieran Wallace and
Padraic Monaghan of KPMG, and Lintal Commercial Limited (“Lintal”), and (ii) a
Property Sale Agreement between Slyne Properties Limited (In Receivership),
The Western Partnership, Qutone Limited (In Receivership), David Courtney, and
Lintal.
2
The Undertakings Involved
The Acquirer - Dalata
3. Dalata, headquartered in Sandyford in Dublin, is the holding company of the
Dalata Hotel Group.
3
Dalata is involved, through various wholly owned
subsidiaries, in the hotel sector in Ireland and in Wales.
4
4. Within the State Dalata owns and operates three hotels one in Limerick and two
in Dublin. Also within the State, Dalata operates 32 hotels owned by other parties
1
On 28 November 2014 the Commission received a notification of a proposed transaction whereby Dalata would acquire
certain assets, namely the Clayton Hotel, also located in Galway (see Case M/14/036 – Dalata/Clayton Hotel). The
Commission’s analysis of Dalata’s proposed acquisition of the Pillo Hotel in the present case proceeds on the assumption
that Dalata’s acquisition of the Clayton Hotel, as notified to the Commission, has been implemented. See
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2
Both of these documents are dated 5 December 2014. Lintal is a wholly owned subsidiary of Dalata.
3
Dalata’s largest shareholders are Franklin Templeton Institutional, LLC 11.9%, Marketfield Asset Management 10.1%, FIL
Limited 10.0%, Pioneer Asset Management S.A. 4.9%, and Blackrock Inc. 3.5%.
4
Outside of the State, Dalata owns and operates the Maldron Hotel Derry. Dalata also operates (but does not own) the
Maldron Hotel Belfast and the Best Western Plus Maldron Hotel Cardiff.

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