Tehnofrig SA Cluj wants half of the stake held by vice-premier and businessman George Copos in the Hilton Hotel.
One of the most interesting deals of this year, the takeover of the Hilton Hotel in Bucharest by vice-premier George Copos is now challenged in court. Tehnofrig Cluj is claiming half of the stake acquired by Ana Hotels, saying that this was what the two parties agreed upon when they became part of this business.
Case file 5197, with Tehnofrig SA as plaintiff and Ana Hotels and Gheorghe Copos as defendants was registered by the Bucharest Court of Law''s Department VI (commercial court) on October 13. The first court date was November 11, and the second on December 2, when the defendants petitioned the court for an extension of the trial until they hired a lawyer for the defence, market sources say. The French at Vivendi Universal this year sold 52.54% in the shares of the company that controls the five-star Athenée Palace Hotel in Bucharest to the Ana group controlled by George Copos, in a transaction estimated at 21 million dollars (some 18 million euros).
The sale of Vivendi Universal''s stake in the Hilton business to the Romanian party was assisted by French law firm Gide Loyrette Nouel, with lawyers from its Paris and Bucharest offices.
Market sources say Copos'' group and Tehnofrig had reached an agreement prior to the signing of the deal with the French, which should have seen Tehnofrig and Ana Hotels buy the Hilton stake together, through an investment vehicle.
Copos does not want to share the stake with Tehnofrig Cluj now. On the other hand, Tehnofrig claims entry into the Hilton business.
The two parties failed to agree on how they were supposed to come up with the money to buy this stake.
The Cluj-based company therefore filed suit against those that control the Hilton business at the moment, hiring the Calin Zamfirescu & Asociatii law firm, headed by Calin Zamfirescu, rated as one of the top commercial litigators on the Romanian market. Zamfirescu is also the chairman of the Union of Lawyers of Romania.
Tehnofrig SA is specialised in manufacturing of equipment for processing foods, beverages and tobacco. It is controlled by a group of businessmen from Cluj. According to its RASDAQ filings, Tehnofrig is held by Dorel Goia with 27.72%, Horia Ciorcila - 19.43%, Simona Ciorcila - 8.28%, Turcu Iacob - 18.25%, Turcu Sorinel - 8.28%, with the rest of the shares held by other investors.
Ana Hotels operates seven hotels, including the five-star Crowne Plaza in Bucharest. It also has three hotels in the Poiana Brasov mountain resort: Sportul, Bradul and Poiana, and the Astoria and Europa hotels in Eforie Nord. It also owns the Ana Aslan Health Spa. The officials of the two parties did not have any comment to make by the time the story was ready for print.
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