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Bridge takeover accepted

Anna Pakulniewicz 10 January 2018

Anna Pakulniewicz


+48 22 356 25 07

Ania covers the Baltic states’ real estate markets, architecture and urban planning in Warsaw as well as interior design. She is also the co-founder of Eurobuild TV. Among others, she has been employed by TVN CNBC, PAP Insider, WBJ (The Observer), Poland Monthly and IMM. She graduated from the Warsaw School of Economics, majoring in international relations. She has also completed postgraduate studies in macroeconomic analysis. In addition to this, she studied Lithuanian philology

Bridge takeover accepted
Sofitel Budapest Chain Bridge Hotel is a five-star hotel on the banks of the Danube

HUNGARY The European Commission has given its approval for the sale of Sofitel Budapest Chain Bridge Hotel to Starwood, ruling that the joint control over the hotel by Starwood and Accor-Pannonia falls within the scope of the Merger Regulation paragraph 5(a).

With approval from the EU competition authorities the agreement should be finalised within the next few months, after which Orbis will continue to manage the luxury hotel for an initial 30 year-period on the basis of the same sales agreement. After the sale of the hotel, Starwood is to invest in extensive renovations.

On Dec 1st, 2017, the European Commission received notification of the proposed transaction by which US-based Starwood Capital Group would acquire joint control with Accor-Pannonia Hotels, the Hungarian subsidiary of French-based hotel group Accor, over the Sofitel Budapest Chain Bridge Hotel, which is currently solely controlled by Accor-Pannonia, as a result of a share/asset purchase and management contract.

Sofitel Budapest Chain Bridge Hotel is a five-star hotel on the banks of the Danube.

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