SCD makes offer on Zalatour
Monday, August 29, 2005, 00:00
The SCD Group, a British real estate company that has recently acquired Balatontourist Rt for Ft 4 billion, has made an offer for Zalatour Kft, a local tourism organizer, Napi Gazdaság reported citing unnamed sources . The take-over offer, which came a few months after news emerged that the owner Zalaegerszeg municipality approached SCD offering Zalatour for sale, is seen as a step by the company toward completing its Balaton portfolio. SCD began its expansion in the Balaton area last year through the buy-out of Siótour Rt for Ft 3.2 billion, followed by the take-over of Balatontourist in mid-July this year. SCD then also pledged to invest to the tune of Ft 100 billion in the companies to revive the flagging Balaton tourism. Details of the Zalatour offer have not been disclosed as yet.