The sale procedure consists of “public outcry bids while observing the pre-emption right stipulated in lease contracts, if the case may be”, as per a stock market report.
Investment fund Transilvania Investments Alliance (TRANSI.RO), which owns 78.8% in the share capital of THR Marea Neagra, thus targets the sale of Magura Hotel in the Eforie Sud resort for EUR3 million and the sale of the Vraja Marii complex in the Eforie Nord resort for EUR2 million. In the Saturn resort, the company aims to sell two plots of land, namely, one covering 21,366 square meters, valued at EUR2.5 million, and one covering 76,395 sqm, valued at EUR7.5 million.
The company’s shareholders will covene in an extraordinary general meeting on February 19-20, 2024. They are also expected to approve the contracting of a short/medium-term loan which will be used to cover the temporary liquidity needs, in the amout of maximum EUR5 million or the equivalent in lei.
EFO shares have gained 58% in the last 12 months, amid deals worth EUR2.4 million. The company has a market value of RON231.55 million.