Pandox AB (publ) (OM:PNDX B) agreed to acquire NH Brussels Louise in central Brussels from NH Hotel Group, S.A. (BME:NHH) on August 1, 2022. The transaction is expected to be completed in the beginning of the fourth quarter of 2022. Jonas Van den Bossche of Jones Day (Brussels) acted as legal advisor to Pandox AB (publ) (OM:PNDX B). The lease agreement is expected to become effective during the first half of 2024 when the hotel reopens after an extensive renovation. The lease is revenue-based with a minimum rent and runs over 25 years with an option for a further 10 years.
Pandox AB (publ) (OM:PNDX B) completed the acquisition of NH Brussels Louise in central Brussels from NH Hotel Group, S.A. (BME:NHH) for Ç35 million on September 30, 2022.