The lease was renewed via their Hungarian subsidiary, for further 20 years period starting from 1 January 2019.
Arena Hospitality published a document stating that it has renewed the lease of the art’otel Budapest, via their Hungarian subsidiary, for further 20 years period starting from 1 January 2019.
The annual rent is based on a percentage of the hotel’s revenue with a minimum element. The Group states that they will continue to invest in the property to further build on their already strong position in the market.
As Arena reports their financial statements from Germany and Hungary together, we observed their T12 2018 revenues and EBITDA. Arena’s T12 revenues in Germany and Hungary amount to EUR 32.5m which is an increase of 6% YoY and makes for 32% of the total T12 revenues. Meanwhile, their T12 EBITDA amounts to EUR 6.6m which is a 14% increase YoY and accounts for 22% of the total T12 EBITDA.
The public offering will be carried out between 28 January and 2 February for the purchase of 19.6m shares at a purchase price of RON 2.5 per share.
SIF Oltenia published a statement saying that they have received the approval from the Financial Supervisory Authority for the public offer to purchase shares issued by SIF Oltenia. The public offering will be carried out between January 28 and February 2 for the purchase of 19.6m shares (representing 4% of the share capital) at a purchase price of RON 2.5 per share. This would translate into a purchase worth RON 49m (EUR 10.4m).
The proposed price of the offering is 20% higher than the price of RON 2.09 per share as of 16 January.