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RC II buys 63 pc stake in Mamaia Fantasy Beach hotel for 8 mln euros

Investment fund Reconstruction Capital II (RC II) announced on Wednesday the acquisition in exchange of eight million euros of a stake of 63 percent in Antares Hotels SRL, owner and operator of the Fantasy Beach Hotel, a 305-room unit located in Mamaia resort, on the Black Sea shore. This hotel covers a surface of approximately half a hectare and is located close to the beach.

As well, Antares Hotels SRL also holds a surface of 2,257 square meters close to this hotel, where the investor plans to build holiday apartments. As part of this transaction, the RC II invested funds are to be mainly used for the repayment of credits taken for the hotel's modernization, as well as for offering circulating capital to Antares Hotels. The investment fund plans to designate Peacock Hotels/Global Hotel Management to operate the said hotel as part of the 'Golden Tulip Hotels, Inns & Resorts' chain, Bursa daily reads on Thursday. On the other hand, businessman Dumitru Becsenescu, the one who sold 63 percent of Antares Hotels, told Ziarul financiar daily that he 'signed a contract with Peacock Hotels'. According to the source, this transaction puts the hotel value at some 13 million euros. Over 2005-2006, the hotel operated under the Spanish Riu brand, based on a management contract. Reconstruction Capital II is already investor on the local capital market, being shareholder in the medical services group of companies Romar, in the Bucharest-based dye producer Policolor, as well as in the dairy producer Albalact from Alba Iulia (center). Sursa: http://www.rompress.ro

Tags: hotel hotels euros beach

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