One of the most popular travel agencies in Romania, about 20 years old, was sold to a Hungarian tour operator, part of Polish break Wirtualna Polska (WP) Holding.
A well -known Romanian travel agency was sold to a Hungarian tour operator
Hungarian tour operator Szallas Group, part of the Polish group Wirtualna Polska (WP) Holding, has completed the transaction by which it takes lithorallromanesc.ro from the founder Ionuț Nedea, the total value paid in exchange for 100% exceeding 26 million euros, over the initially advanced, the data analyzed.
Szallas signed an agreement for the acquisition of Lithoralomanescu.ro last summer, in a two-stage structured transaction, which evaluated the Creative Eye SRL, the operator of the travel platform, over 21 million euros.
The transaction targeted only lithoralulromânesc.ro. The rest of the assets held by the creative Eye at that time – the opal hotel in Jupiter and the Amelie brand (hotel apartments) in Mamaia – were to be separated and taken over by a new company established by Ionuț Nedea.
In the first stage, Szallas paid 16,668 million euros for an 80% package of creative Eye shares. The price was slightly adjusted down at the end of the transaction, from 16.8 million euros as it was initially announced. The price paid for the 80% stake Conference Creative Eye An implicit value of over 21 million euros at that time. Now, Szallas has bought the rest of the company's shares, in exchange for 5.05 million euros, also subject to Net Cash adjustment mechanisms at the end of the transaction.
The lithorallular site is specialized in coastal tourism, with accommodation offers in all the local resorts from the Black Sea. The site promotes holiday offers in over 500 accommodation structures, from one-star units, in: Năvodari, Mamaia Nord, Mamaia, Constanta, Eforie Nord, Eforie Sud, Costinești, Neptun, Olimp, Jupiter, Venus, Saturn, Mangalia, May 2, Vama Veche.
The site is operated by the organizing agency the Romanian coast, licensed since 2005.
