Budapest, September 2015
After 23 years, Danubius Hotels Nyrt. has left the Budapest Stock Exchange following a voluntary takeover bid.
The British CP Holdings Ltd. and the respective involved individuals, successfully provided a voluntary takeover bid for 100% of the shares of Danubius Hotels Nyrt. for the amount of EUR 4.2 million.
The purchasing price per share was EUR 25.50, which was significant, as the offer, handed in on 15th of June to the bid submission bank, meant a close to 50% premium compared to the weighted average stock price of the previous 360 days.
After a successful bid, the tenderers followed its in the law defined purchasing rights and took down the Danubius Hotel from the Budapest Stock Exchange. Danubius is Hungary’s largest hotel chain, operating 23 privately owned hotels (more than 5,500 rooms) as well as the Gundel restaurant. In addition, it is the majority owner and operator of 8 further Czech, 12 Slovakian and 3 Roman (Szováta) hotels.
CP Holdings is active in the UK since more than 50 years. It owns various investments in the UK, Hungary, Israel and Africa, across different lines of business.
The processing of the offer was co-organized by Concorde Értékpapír Zrt. in collaboration with Concorde MB Partner’s professionals.
