Jeantet has advised Accor-Pannonia Hotels Zrt., a subsidiary of the Orbis Hotel Group, on the execution of a EUR 75 million sale and management back transaction with controlled subsidiaries of Starwood Capital Group regarding the iconic Sofitel Budapest Chain Bridge Hotel, located in the heart of the Hungarian capital.
The transaction, which encompasses, among other things, a quota sale, a related business transfer, and the management back of the Hotel, is subject to the approval of the European Commission.
Jeantet Budapest’s M&A team was led by Partner Francois d’Ornano and included Anna-Maria Veres and Blanka Borzsonyi.
This past summer Jeantet advised Accor-Pannonia Hotels on its EUR 42.25 million acquisition of the company holding the real estate on which the Sofitel Budapest Chain Bridge hotel is located from Universale International Realitaten (as reported by CEE Legal Matters on June 23, 2017).
Image Source: sofitel.com