"The tender book for today auction was not bought. Another auction will be held on Wednesday, at 15h30, and if it doesn’t sell, another auction will be held on Friday", have declared the representatives of VF Insolvenţă SPRL, the judicial liquidator of ONT Carpaţi, a company in insolvency.
ONT Carpaţi owes 35% shares of the company that administrates the Marriott hotel in Bucharest, a hotel with 423 rooms, classified for five stars.
The starting price of the auction on Monday was EUR 22.3 million, excluding of VAT.
The liquidator’s representatives did not wish to say if the price will be decreased for the next auction.
"The creditor will appreciate if the prices for the Wednesday auction will be diminished", said the cited sources.
The biggest creditor of ONT Carpaţi is Bank of Cyprus, which owes 93% of the company’s shares. The most important asset owed by the Romanian branch of the Bank of Cyprus is a loan of EUR 110 million granted to the company owning Marriott, extended in the autumn of last year and due in 2017.
The loan was secured with the land of 28,457 sqm in Calea 13 Septembrie St., including JW Marriott Bucharest Grand Hotel and the additional complex with commercial spaces, offices, casinos, interior and exterior parking as well as all the improvements of the assets in guarantee.
ONT Carpaţi also owes the four stars hotel New Montana in Sinaia. In 2011, ONT Carpaţi registered a 12% rise in turnover, to 10.2 million lei and 46.2 million losses.
The biggest shareholder of the Societatea Companiilor Hoteliere Grand, the owner of Marriott, is the Austrian construction company Strabag, with almost 65% shares. (source: money.ro)