Scandic Hotels Group AB (OM:SHOT) signed an agreement to acquire Grand Hotel As from Eiendomsspar AS (OTCNO:EISP) on January 18, 2017. In a related deal, Scandic Hotels Group AB (OM:SHOT) signed an agreement to acquire seven hotels from Pandox on January 18, 2017. The transfer of the hotels in Norway is subject to approval by the Norwegian competition authorities. Scandic Hotels will take over the operation of the hotels in stages during the second quarter of 2017.

Scandic Hotels Group AB (OM:SHOT) completed the acquisition of Grand Hotel As from Eiendomsspar AS (OTCNO:EISP) during second quarter of 2017.