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Vienna House with new sole shareholder

andel’s by Vienna House Krakow, Poland

The new year begins with a decision of enormous impact for the future of Vienna International Hotelmanagement AG just one year after repositioning itself on the market as Vienna House. The entire equity stake will be acquired by Vienna House Capital, the Austrian subsidiary of Thailand’s U City PCL (U City), with expected effective date of Summer 2017.

The signing took place on 23 February 2017. In the coming months, the transaction will be prepared, subjected to an antitrust review and approved for closing. The deal will strengthen the capital structure of Vienna House to secure further investments in growth, in the business architecture and in pioneering services.

At the same time, Vienna House Capital signed the purchase agreement for seven European hotel properties and one operating company owned by Warimpex and partially by UBM. All of the hotels involved are already under management by Vienna House. With the closing, these hotels will be incorporated into the Vienna House Group. 

U City is a listed Thai commercial property company. In September 2016, U City made its first strategic step into Europe through its acquisition of a prime office building in London. The largest shareholder of U City with 35.64 percent is BTS Group (BTSG), one of Thailand’s top publicly listed companies with a market capitalisation of EUR 2.7bn and four business units: mass transit (Skytrain), media, real estate and services.

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