Arenaturist will manage the Park Plaza brand in Central and Eastern Europe

Euro Sea Hotels N.V., a subsidiary of PPHE Hotel Group Limited, has announced a Tender Offer for the acquisition of Arenaturist d.d. on the Zagreb Stock Exchange.

The obligation to publish the Tender Offer arose after Euro Sea Hotels announced the indirect acquisition of 74.15% of Arenaturist’s shares in early March 2016. The subject of the Tender Offer is the remaining 564,237 shares of Arenaturist, which constitute 25.85% of Arenaturist’s share capital.

Euro Sea Hotels offers 325.73 HRK for each share, which represents the average price of Arenaturist’s shares achieved on the Zagreb Stock Exchange during the last three months prior to the obligation to publish the Tender Offer. The Tender Offer will be open for 28 days starting tomorrow, March 30.

PPHE Hotel Group Limited intends to enable Arenaturist to operate independently with the existing executive management and to continue cooperation with Arenaturist’s employees. After the completion of the Tender Offer, PPHE Hotel Group Limited’s goal is for Arenaturist to develop into a leading hotel company in Central, Eastern, and Southeastern Europe with a business model that includes ownership and management of its own accommodation facilities and management of hotel capacities owned by others, under the Park Plaza brand franchise.

PPHE Hotel Group Limited intends to connect Arenaturist with hotels and hotel operations owned by the Group in Croatia and those owned by the Group in Germany and Hungary. Arenaturist will be granted a license to use the Park Plaza brand in Croatia, Germany, and other countries in Central, Eastern, and Southeastern Europe. This will enable acquisitions and the development of new hotels as well as the conclusion of new management contracts with hotels in the mentioned regions that are not part of the Group.         

After the completion of these processes, PPHE Hotel Group Limited intends to list Arenaturist’s shares on the Official Market of the Zagreb Stock Exchange. It is expected that this will provide access to shares for a broader base of investors, increase liquidity in trading shares, strengthen Arenaturist’s corporate profile, and ensure greater flexibility for business growth.