Greek "Lampsa" to bid for "Genex"

(Genex)

In the tender procedure for privatization of the property of company "Genex", at starting price of 130m EUR, one of the most serious bidders will be Greek company "Lampsa", backed by the National Bank of Greece and investment fund “Ashmore“ from London.

Privatization Agency announced two separate tenders on December 27, the first one for sale of hotel "Continental", "Genex suites", tennis hall and a plant in Belgrade, at minimum price of 85m EUR, while the second tender includes hotel complex on Kopaonik, "Grand", "Konaci - Sunčani vrhovi", restaurant “Zvrk" and residential units in Raška, at starting price of 45m EUR.

Company "Lampsa" owns famous hotel "Great Britain" in Athens and, in addition to hotel management business, it also deals with trade in real estates and owns about 200 ships.

"Lampsa" has recently started to invest in Serbian market by taking over 51% of stocks of the Belgrade hotel "Hyatt", in which it invested more than 11m EUR. About ten days ago, it also bought hotel "Excelsior", in the very center of Belgrade, for 610m RSD.

Deadline for submission of bids is March 24, and the public auction for sale of parts of "Genex" will take place on March 31. The buyer’s obligation is to keep the hotels and suites in the same field of work with next 20 years, that is, to provide the level of hotel quality of minimum 4+ international stars within three years from the takeover, to operate on the international market and to have protected logo.