December 5 (SeeNews) - Serbian tourism group Putnik [BEL:PTNK], majority-owned by Russian asset manager Metropol Group, said on Monday its shareholders gave the green light to the sale of its Tulip Inn hotel in Belgrade.
The decision was unanimously approved by the holders of 84.25% of the share capital represented at the extraordinary general shareholders meeting, carried out on Friday in Belgrade, the company said in a bourse filing.
You can subscribe to our M&A newsletter here
The board of directors gave the green light to the transaction on November 4 and the decision was ratified by the supervisory board on November 8.
The deal will involve the sale of the entire capital of Putnik's subsidiary Hotel Putnik Beograd d.o.o., the direct owner of the hotel, operated under the franchise of Golden Tulip. Hotel Putnik Beograd d.o.o. was the first company in the Balkans that began franchising cooperation with the Tulip Inn chain back in 2010.
The hotel, located only 15 km drive away from the Nikola Tesla Airport, boasts 84 standard rooms, 20 suites and one disabled access room. There are also conference facilities available as well as a fitness and spa centre.
Metropol Group owns Putnik through its Cyprus-based unit Acciona Investments Limited, which took control of 83% stake in the capital of the Serbian company in 2007. The group invested 7 million euro ($7.5 million) in renovating the Tulip Inn hotel and officially opened it in November 2010.
($=0.934507 euro)