Reconstruction Capital turns Fantasy into Golden Tulip with EUR 8 mln share package

Newsroom 10/03/2008 | 15:38

Dumitru Becsenescu, former full owner of the hotel company, will keep 37 percent of his shares. “We decided to sell the hotel to the investment fund in order to reach Golden Tulip's international standard,” said Becsenescu. The hotel compound is made up of two hotel wings which feature 305 rooms, and operated under the RIU brand from 2005-2006, based on a management contract. The hotel will operate for the entire year, with the aim to host both leisure and business clients.
Closed fund Reconstruction Capital II Limited specializes in investments in Romanian and Bulgarian companies. New Europe Capital (NEC Romania) is the fund's investments consultant, while New Europe Capital Limited (NEC London) is its investments manager. There are six Golden Tulip franchised hotels in Romania.

Corina Saceanu

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