AS Pro Kapital Grupp, an Estonian-based holding company has concluded in late July the contracts for the sale of group hotels PK Ilmarine and PK Riga. The object of the Transaction is the sale of both operating activities and real-estate of hotels.
Transactions concerning the Estonian segment involved the sale of 100% shares of OU Hotel Management Services, operator of PK Ilmarine Hotel, and sale of real-estate used by PK Ilmarine Hotel, including parking. Transaction is completed, ownership of assets relating to hotel are transferred.
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