A new stake partner in Greece’s Lampsa Hotel Company March 14, 2008Posted by grhomeboy in Business & Economy, Hotels Greece.
Tags: Athens, Business, Greece, Hotels
Venture Ability has gained majority control of the Lampsa Hotel Company, the owner of Athens’s historic Grande Bretagne Hotel in Syntagma Square, after a public offer that ended March 11.
Venture, acting with Homeric Department Stores in the offer, bought 3.45 million Lampsa shares for 17.18 euros each, according to a statement late Wednesday to the Athens bourse. Together, Venture and Homeric now own 65.8 percent of Lampsa. Prior to the offer, they held 49.5 percent.
The offer valued Lampsa Hotels at 367 million euros, or about 3.4 percent more than the market value of the company the day the offer was announced on January 16. Lampsa, which has said it is seeking to expand into cities such as Istanbul, Sofia and Bucharest, also has a controlling stake in Belgrade’s Hyatt Regency Hotel.