SIF Hoteluri sells DoubleTree by Hilton in Oradea for EUR 11 mln

SIF Hotels, a company owned by the closed-end investment fund SIF Banat-Crişana (SIF1), concluded on June 3 a bilateral agreement to sell the DoubleTree by Hilton hotel in Oradea for the amount of EUR 11 mln, according to a press release published by the company.

The buyer is local businessman Sandu Pop, according to Profit.ro.

The contract concerns the transfer of all hotel, economic and commercial activity carried out by the DoubleTree by Hilton Hotel in Oradea, including real estate, fixed assets, inventory items, goods stocks, intangible movable assets, employees, and contracts with suppliers and any other tangible or intangible asset.

"The approval of the sale by the Board of Directors of SIF Hotels was made based on the decision no. 1 / 17.03.2022 of the Extraordinary General Meeting of Shareholders of SIF Hotels, by which the Board of Directors was authorized to carry out the transaction, at a price at least equal to the fair value resulting from an appraisal report prepared by an authorized independent appraiser no later than three months prior to the approval of the sale price," the report states.

The document mentions that the transaction was made through direct negotiation, the final price being above the upper limit of the price range estimated by the evaluation report.

(Photo: DoubleTree by Hilton Oradea Facebook Page)