On April 28, SIF Hoteluri shareholders will discuss the principle approval of the merger by absorption of SIF Hoteluri with Azuga Turism, at the request of shareholder SIF Banat Crisana, according to a report sent to the Bucharest Stock Exchange.
SIF Hoteluri is the hotel holding of SIF Banat Crisana, created on the structure of the former Calipso Oradea, with which five other companies merged – Rusca Hunedoara, Valy-Tim Timisoara, Beta Transport Cluj, Hotel Mesesul Zalau, and Trans Euro Hotel Baia Mare.
SIF Banat Crisana intended to sell its stake in Azuga Turism, according to information from the annual report, but the buyer withdrew from the deal.
SIF Banat-Crisana holds 98.94% of the share capital of Azuga Turism SA.
The company owns a 3-star hotel, an entertainment center, a sports field, cable transport installations – gondolas, ski lifts, baby ski, a sports equipment rental center, and catering units, all assets being located in the town of Azuga, in the Valea Prahovei tourist area.
Source: Bursa
Frequently Asked Questions
What is the purpose of the SIF Hoteluri and Azuga Turism merger?
The merger aims to consolidate SIF Banat Crisana’s tourism assets under a single holding structure, SIF Hoteluri, following a failed sale of Azuga Turism.
What assets does Azuga Turism own?
Azuga Turism operates a 3-star hotel, cable transport facilities (gondolas and ski lifts), and various leisure facilities in the Valea Prahovei region.
Who initiated the merger proposal?
The proposal was initiated by SIF Banat Crisana, which holds a majority stake in both companies, including 98.94% of Azuga Turism.