A group of shareholders holding 6% of Transilvania Investments Alliance – Mamaia North Investments S.A., Consulting & Construction Investments S.A., Alexa Business & Investments S.R.L., Arion Irina-Elena, and Cociu Maria-Alexandra \u2013 has requested the supplementation of the agenda for the Extraordinary General Meeting of Shareholders (AGEA) on July 11 with an item aiming to increase the minimum sale price of the stake held by Nova Tourism Consortium in Hoteluri Restaurante Sud.<\/p>\n
\u201cApproval of the sale of the stake held by Nova Tourism Consortium S.A. in the Company Hoteluri Restaurante Sud S.A. considering the following contractual conditions: a. The object of the transaction will consist of the entire share package held by Nova Tourism Consortium S.A. in the Company Hoteluri Restaurante Sud S.A., complying with the ‘all or nothing’ condition; b. The minimum sale price for the share package shall be 112,000,000 RON,\u201d as stated in the supplement to the convening notice, according to Transilvania, item number 4. For more details the convening notice can be analyzed at this link.<\/strong><\/a><\/p>\n Last December, the shareholders of THR Marea Neagr\u0103 (EFO), a tourism company controlled 78.8% by Transilvania Investments Alliance, approved the partial division of the company, through which a portion of THR Marea Neagr\u0103’s assets and liabilities was transferred to the company Hoteluri Restaurante Sud.<\/p>\n Low-cost hotels from the THR Marea Neagr\u0103 portfolio were transferred to the newly established company Hoteluri Restaurante Sud as an effect of the division, while high-comfort three- and four-star hotels will be retained by THR Marea Neagr\u0103.<\/p>\n Transilvania Investments, which currently holds 78.8% of THR Marea Neagr\u0103, will hold 69.7% after the division. The price at which a THR Marea Neagr\u0103 share will be sold if some shareholders decide to withdraw from the company is 0.4414 RON per share. The share capital of THR Marea Neagr\u0103 will thus be reduced by 25 million RON, from 57.6 million RON to 32.6 million RON.<\/p>\n Transilvania Investments Alliance intends to sell the accommodation units for a price exceeding 90 million RON. The bidders are Mamaia North Investments, Consulting & Constructions Investments, Alexa Business & Investments, Arion Irina Elena, and Cociu Maria-Alexandra.<\/p>\n <\/p>\n What is the new minimum price requested for the Hoteluri Restaurante Sud stake?<\/strong><\/p>\n The shareholders have proposed a minimum sale price of 112,000,000 RON for the entire share package, based on an “all or nothing” condition.<\/p>\n Which assets were transferred to the new entity, Hoteluri Restaurante Sud?<\/strong><\/p>\n Following the division of THR Marea Neagr\u0103, all low-cost hotels were transferred to Hoteluri Restaurante Sud, while premium 3 and 4-star hotels remained with THR Marea Neagr\u0103.<\/p>\n Who are the potential buyers for these hotel assets?<\/strong><\/p>\n The bidders include Mamaia North Investments, Consulting & Constructions Investments, Alexa Business & Investments, Irina Elena Arion, and Maria-Alexandra Cociu.<\/p>\n","protected":false},"excerpt":{"rendered":" A group of shareholders holding 6% of Transilvania Investments Alliance – Mamaia North Investments S.A., Consulting & Construction Investments S.A., Alexa Business & Investments S.R.L., Arion Irina-Elena, and Cociu Maria-Alexandra \u2013 has requested the supplementation of the agenda for the Extraordinary General Meeting of Shareholders (AGEA) on July 11 with an item aiming to increase…<\/p>\n","protected":false},"author":0,"featured_media":93549,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2853],"tags":[2906],"thb-sponsors":[],"class_list":["post-114709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","tag-transilvania-investments-alliance-en"],"article_style_override":"on","post-style":"style2","post_via":"","post-top-image":"https:\/\/rhn.ro\/wp-content\/uploads\/2019\/11\/investitii-3.jpg","_links":{"self":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/114709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/comments?post=114709"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/114709\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/93549"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=114709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=114709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=114709"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=114709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Frequently Asked Questions<\/h3>\n