Businessman George Copos, who owns seven hotels that cumulate1,000 rooms, bought the 3.4% minority stake in Ana Hotels, put upfor sale by the Ministry of Regional Development and Tourism (MDRT)in an auction held yesterday, in which only Copos took part.
"At the recommendation of my consultants, I decided toparticipate in the auction, especially since I have the financialsupport of BRD bank. I bought the 3.4% stake for 1.4 million euros,which I consider to be a very high amount," said businessman GeorgeCopos.
At the end of September the businessman said he would not paythis much money for the stake put up for sale by the ministry andthat he was not interested in taking part in the auction. TheMinistry of Regional Development and Tourism announced in Septemberit was auctioning off its 34% stake in Athénée Palace SA, a companythat controls 10% in Ana Hotels.
Only two individuals and two companies, among which Ana Hotels,bought the conditions of contract for the auction. However, theonly offer was submitted by Ana Hotels, controlled by George Copos.The businessman offered the minimum price asked by MDRT, i.e. 1.4million euros. The transaction puts Copos's hotels at 44 millioneuros, less even than the valuation made for five-star Hilton hotela few years ago.
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