Warimpex Finanz- und Beteiligungs AG
euro adhoc: Warimpex Finanz- und Beteiligungs AG
Strategic management
decisions
market entry in Romania - acquisition of Airport Hotel Golden Tulip
Sky Gate in Bucharest
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
market entry in Romania
17.07.2007
Warimpex acquires first hotel in Romania and perceives huge potential in this new market The four star hotel Golden Tulip Sky Gate is the only international business class Airport Hotel in Bucharest
Warimpex Finanz- und Beteiligungs AG and RAEF are pleased to announce the transaction of the Four Star Airport Hotel in Bucharest - the Golden Tulip Sky Gate.
The acquisition of the Sky Gate Hotel provides Warimpex with an investment in the increasingly important hotel sector in Romania. Warimpex purchased a 99,98 % interest through the acquisition of shares in the course of a transaction concluded with the majority shareholder, the Romanian American Enterprise Fund, and with the other two significant shareholders of the company owning the hotel. The parties have agreed not to disclose the purchase price.
The hotel was opened in 2001 and since 2005 the Golden Tulip Sky Gate has been run under a franchise contract with Golden Tulip. The hotel offers 108 rooms and 3,000 sqm of office space that can be transformed into 70 additional hotel rooms.
For Warimpex this acquisition is the first step into the large and growing Romanian market.
end of announcement euro adhoc 17.07.2007 08:30:00
Further inquiry note:
Warimpex Finanz- und Beteiligungs AG
Phone: +43 1 310 55 00
Christoph Salzer
mailto:presse@warimpex.com
Daniel Folian, mailto:investor.relations@warimpex.com
www.warimpex.com
Branche: Real Estate
ISIN: AT0000827209
WKN:
Index: ATX Prime
Börsen: Wiener Börse AG / official market