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euro adhoc: Warimpex Finanz- und Beteiligungs AG / Strategic management decisions / market entry in Romania - acquisition of Airport Hotel Golden Tulip Sky Gate in Bucharest (E)

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  • 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.

Further inquiry note:
Warimpex Finanz- und Beteiligungs AG
Phone: +43 1 310 55 00
Christoph Salzer
Daniel Folian, investor.relations@warimpex.com www.warimpex.com

end of announcement euro adhoc

emitter: Warimpex Finanz- und Beteiligungs AG
Porzellangasse 4
A-1090 Wien
phone: 01/3105507
FAX: 01/310550722
mail: office@warimpex.com
WWW: www.warimpex.com
sector: Real Estate
ISIN: AT0000827209
indexes: ATX Prime
stockmarkets: official market: Wiener Börse AG
language: English