Cyprus:
Strabag SE - Acquisition Of JW Marriott Bucharest Grand Hotel
29 January 2016
Elias Neocleous & Co LLC
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In the summer of 2014 we advised Strabag SE, one of Europe's
largest construction groups, on the acquisition of the one-third of
the share capital it did not already own in Societatea Companiilor
Hoteliere Grand SRL, a Romanian company which owns the JW Marriott
Bucharest Grand Hotel. The hotel opened in November 2000 and is the
largest in Bucharest. The seller was Bank of Cyprus and the
price was €95 million. Strabag has more than 73,000 employees
and its activities span all areas of the construction industry and
cover the entire construction value chain.
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