Transilvania Investments Alliance (TRANSI) has obtained the approval of the Financial Supervisory Authority (ASF) to conduct a public tender offer for a 4.01% stake in ARO Palace (ARO) shares. The operation is part of a cross-consolidation agreement for tourism assets concluded with Winners First, the investment vehicle of the Chairman of Banca Transilvania, Horia Ciorcilă. According to details from the analyzed sources, the information was initially published by Profit Insider.
The public offer will take place between July 2 and July 15, at a price of EUR 0.085 per share, valuing ARO Palace at a market capitalization of approximately EUR 34.3 million. This stage follows an agreement in April, through which Winners First acquired 68.6% of the share capital of Turism Lotus Felix – a company operating a 5-star hotel in the Bihor thermal resort – for EUR 9.36 million. The sellers of this stake are TRANSI (38%) and its fully-owned subsidiary, Turism Felix (30%). In parallel, TRANSI committed to paying EUR 3.15 million to Winners First to acquire a 10.25% stake in ARO Palace shares, thereby marking the partner’s exit from the shareholding of the Brașov-based hotel.
Although the transaction is not yet registered on the stock exchange portal, where TRANSI is listed with an 85.74% stake, the completion of the agreement will raise the fund’s holding to over 95% of ARO Palace shares. This legal threshold will allow the company’s delisting, with the current public offer aiming to acquire the remaining minority stakes on the market. Consolidating control supports TRANSI’s strategy of concentrating luxury assets in Brașov, where the ARO Palace hotel is undergoing a transformation process to become a Hyatt hotel.
Frequently Asked Questions
What is the purpose of the public offer for ARO Palace?
The public offer aims to acquire the remaining minority stakes (4.01%) to raise Transilvania Investments’ holding above 95%, enabling the delisting of ARO Palace.
What is the transaction price per share?
The public offer is carried out at a price of EUR 0.085 per share, valuing ARO Palace at approximately EUR 34.3 million.
What is the future plan for the ARO Palace hotel?
The consolidation of control supports Transilvania Investments’ strategy to focus on luxury assets in Brașov, where ARO Palace is being transformed into a Hyatt hotel.