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Ramūnas Baranauskas, one of the latter’s shareholders, the former head of Orion Asset Management, claims that after acquiring Magnus Hotel, the company is also considering further acquisitions in major Lithuanian cities and neighboring countries.
According to him, the decline in the hotel business caused by the pandemic is also an opportunity to invest in facilities that were too expensive before the crisis.
These (hotels – BNS) are among the sectors most affected by the crisis. There are good opportunities to acquire certain items that may have been underestimated when the economy was stable. Now it is difficult for them to survive and those who do not have additional capital can automatically move on to negotiations, ”R. Baranauskas told BNS.
According to him, it is planned to invest in the hotel on Vytautas avenue, but R. Baranauskas did not reveal how much.
“Now we have several alternatives, we are evaluating them and we will make certain investments. As it is, (the hotel – BNS) will not stay,” said the manager of the owner of the Magnus Hotel.
“The hotel business is not a strategic activity of the Achema Group, so the profitability of capital and the prospects of each company that manages them are evaluated,” BNS commented on the Achema Group.
The portal vz.lt was the first to announce the transaction on Thursday.
Last month, it was announced that Achema Group had decided to liquidate Inkontas, the manager of Magnus Hotel. The company announced to the Employment Service that it would lay off the 25 employees.
According to the Records Center, the Union Finance company was created in early October and is owned equally by R. Baranauskas and Donetas Karčiauskas, a shareholder of the Sostena automobile trading company.
It is not allowed to publish, quote or reproduce the information of the BNS news agency in the media and on websites without the written consent of the UAB “BNS”.
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