Tehnofrig tests the market with its Athenee Palace offer

Autor: Catalin Ciocan | Sursa: Standard.ro | Publicat: 27 mar 2008, 00:00

The Tehnofrig food refrigeration equipment producer has launched a public offer for 13.8 percent of Athenee Palace shares, in preparation of a possible state decision to give up its shares in the company. Athenee Palace controls 36 percent of Athenee Phenix Group, which owns the Bucharest Hilton hotel.

ARTICOLE Catalin Ciocan

Catalin Ciocan

The state owns 33.98 percent of Athenee Palace shares, while Tehnofrig controls 18.89 percent.

The company is involved in litigation with businessman George Copos, who controls Athenee Phenix Group. Tehnofrig demanded in court to receive half of the shares taken over by Copos’ Ana Hotels, claiming that the two companies had signed a contract of association to take over the major Athenee Phenix Group share package, and that Copos has not kept his part of the deal.

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