Romanian Nova Trade To Launch RON19.65M Offer To Buy Lido Co

Publicat: 25 07. 2008, 13:06

Actualizat: 06 11. 2012, 08:58

Nova Trade aims to buy 11.56 million shares at RON1.7 per share.

The 54.26% majority stake in Lido SA is split up between stockholders resulted of the mass sale program, the rest of 42.86% being held by Ministry and Commerce and Tourism, while investment fund SIF Transilvania (SIF3.RO) holds a 2.86% stake.

Lido SA holds an 11.893% stake in Intercontinental Romania SA, owner of InterContinental and Lido hotels. It also holds 10.6% in Casa Capsa SRL, owner of Capsa hotel in Bucharest, 8.25% in Union International Center and 2% in Majestic Tourism, owner of Ramada Majestic hotel in Bucharest.

Nova Trade is owned by the Adamescus’, who equally holds Unirea Shopping Center in Bucharest. The Adamescus’ bought Rex hotel in Mamaia seaside resort two years ago, from the Paunescus’, in a EUR10 million deal. The Paunescus’ indirectly own Lido and InterContinental hotels.

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