Jeantet advises the Orbis Group on the purchase of two hotels in Budapest
The Budapest office of Jeantet advised Accor Pannonia Hotels Zrt. in the acquisition of two hotels in Budapest: “Ibis Budapest Heroes Square” (139 rooms) and “Mercure Budapest City Center” (227 rooms). The Hotels are currently operated by Accor Pannonia under lease agreements.
The aggregate price for acquisition of hotels (with furniture, fixtures and equipment) amounts to EUR 27.5 M net.
The aim of the hotels purchase is the optimization of the hotel business conducted by Orbis SA including elimination of costs associated with leasing of the Hotels.
The majority shareholder of Accor Pannonia Hotels Zrt. is Orbis S.A, a Polish public limited company, listed on the Warsaw Stock Exchange, a strategic partner of AccorHotels.
The Jeantet team was led by partner François d’Ornano and was composed of local partner Ioana Knoll-Tudor and of Anna-Maria Veres. François d’Ornano and his team joined Jeantet in 2015 after assisting clients in South-East-Europe at one of the leading French law firms for over the past 15 years.
About Jeantet
Jeantet is a leading French independent business law firm, delivering tailored, high value-added services, with a commitment to ethics and human values. Jeantet offices in Paris, Casablanca, Luxembourg, Geneva, Budapest and Kiev have more than 130 lawyers, including 30 partners.
Jeantet opened offices in Budapest and Kiev in November 2015. The Jeantet Budapest office assists its clients in Hungary but it is also the regional hub for South East Europe, assisting clients in Romania, Serbia, Bulgaria, Slovakia and all the other countries in the region.
With our solid market expertise, Jeantet offers exceptional legal, advisory and litigation expertise, combined with an entrepreneurial culture, to ensure a successful outcome for our clients
Press contacts:
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