Fathi Taher purchases shares of JW Marriott Bucharest
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MAY 2008
“Bostina & Associates” was authorized by Fathi Taher to conduct the negotiations concerning the purchase of shares in JW Marriott Bucharest.
The businessman Fathi Taher wishes to discuss about the purchase of the majority stock of shares of the hotel JW Marriott in Bucharest and authorized the law firm “Bostina & Associates” to conduct negotiations to this purpose with all shareholders.
“I am interested in purchasing and I have even made a proposal in this sense to Strabag almost one year ago, but I haven’t received any answer so far. I had no idea we couldn’t agree on a price until I read so in the press”, says Fathi Taher.
The mandate received by “Bostina & Associates” is flexible and it mainly refers to preparing the preliminary documents necessary for negotiations, entering discussions regarding the basic terms of the transaction and assessment of legal options for concluding the deal.
“The JW Marriott hotel in Bucharest has become a symbol on the Central European hotel market and we are proud to be involved in these negotiations. We will explore all options arising, so that all stages of the negotiations are developed fluently and with positive results. We have mandates to negotiate with Strabag too and with the Bank of Cyprus as well as with all parties interested in the transaction”, declares Managing Lawyer Doru Catalin Bostina.
Currently, Fathi Taher holds 19% and Bau Holding Strabag SA holds 55% of JW Marriott Bucharest, the only one in Continental Europe classified within the luxury category of the hotel chain.
“The investment in the Marriott hotel is particularly special to me and I will get involved directly in this transaction only when things become serious”, added Fathi Taher.
