Copos wants more of Hilton

Copos is offering RON 11 per share, or 26 percent below stock exchange price. He said that the offer is transparent, and has been submitted to the National Securities Commission (CNVM).

The Copos-controlled Athenee Palace SA is the second-largest shareholder (35.59 percent) of Athenee Phenix Group, which operates the Hilton hotel in Bucharest. The main shareholder (52.47 percent) of Phenix Group is Ana Hotels, also controlled by George Copos.

Tehnofrig SA Cluj-Napoca, producer of tools for the processing of food, beverages and tobacco, has also registered for the Athenee Palace shares “battle.” The company has already been approved by CNVM for the public offer to acquire shares issued by Athenee Palace SA. The Cluj company wants to obtain 13.82 percent of the company’s shares (874,796 shares) for RON 10 per share, and already owns 18.89 percent of ATPA shares.