Bulgaria's SVS Buys Grand Hotel Plovdiv from Synergon Unit for 22.8 Mln Euro

Bulgaria's SVS Buys Grand Hotel Plovdiv from Synergon Unit for 22.8 Mln Euro

Bulgarian company SVS has signed a 22.8 million euro ($25.9 million) deal with Synergon Hotels, a unit of diversified group Synergon Holding, for the acquisition of Grand Hotel Plovdiv, commercial register data shows. SVS paid 4.3 million euro upon signing the sale contract, and will pay the remaining 18.5 million euro subsequently, using a loan from local First Investment Bank, according to documents submitted on Monday by Grand Hotel Plovdiv, the company which directly owns the hotel of the same name. Grand Hotel Plovdiv company in turn is wholly-owned by Synergon Hotels. The deal follows the signing of a preliminary contract in June 2018.Grand Hotel Plovdiv company was established in October 2018. The company has a registered capital of 45.7 million levs. Synergon Holding shares closed 2.02% higher at 1.01 levs on the Bulgarian Stock Exchange on Thursday. Last year, Synergon Hotels sold 100% of its subsidiary - hotel owner Europa Resort, to Bulgarian Tourist Company Global Tours for an undisclosed price.

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.