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Danubius ups stakes in subsidiaries

Hungarian hotel chain operator Danubius Nyrt announced yesterday that it has acquired another 43.51% stake in Romania's Salina Invest S.A., boosting its holding in the company to 99.94%. 

Danubius Nyrt first bought a 20% interest in Salina Invest S.A. in 2001 and since then it had gradually increased its ownership in the company to 56.5%. Danubius has spent all the Ft 600 million ($3.2 million) it has raised in the Romanian subsidiary on refurbishing its Salina hotels, such as the Danubius Health Spa Resorts Sovata, daily Napi Gazdaság reported, citing a company official. Danubius spent about Ft 1.6 billion ($8.57 million) to buy the 43.51% stake and an estimated Ft 2.7 billion ($14.5 billion)in total on the entire company. (Napi Gazdaság)