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22ndannualcapital

Alpha Bank announces sale of Athens Hilton for 142 mln euros

Alpha Bank on Thursday announced the signing of a contract to sell its equity stake in Ionian Hotel Enterprises SA (shareholder of Athens Hilton).

The bank announced the signing of a final agreement with Home Holdings SA, a member of TEMES SA and D-Marine Investments Holding BV to sell its 97.3 pct majority stake in Ionian Hotels Enterprises SA -a Greek-listed company- for 142 million euros (including a refinancing of an existing loan).
The transaction will be capital neutral for the bank and fully aligned with a restructuring plan's goals, approved by the European Commission in 2015. Completion of the transaction needs approval from competition authorities by the end of the year.
The agreement signals the change of ownership in one of the most famous hotels in Athens. Hilton Athens began operations in April 1963 and it was the first Hilton hotel to operate in Athens.
D-Marine Investments Holding BV is based in Amsterdam, Holland. It is a subsidiary of Dogus Holding SA, a leader in the Turkish and international economy -founded in 1951 with a workforce of more than 55,000- with established presence in eight sectors -financial services, car dealer, constructions, media, tourism, real estate management, energy and restaurants -with more than 330 subsidiaries and affiliates. Dogus Tourism Group was founded in 1976 and operates luxury hotels, restaurants, beach and yacht clubs in Turkey, Croatia, Italy, Spain, US and Caribbean.
TEMES SA is the developer of Costa Navarino, one of the biggest tourism investments in the Mediterranean.