AS Pro Kapital Grupp withdraws from acquisition of hotel company in Sicily
January 25, 2023
AS Pro Kapital Grupp (Pro Kapital) has signed on 26 April 2022 a preliminary agreement with an intention to buy 100% of the shares of P.K. Sicily S.P.A. (registered office in Milan, Italy), which owns and operates hotel Domina Zagarella Sicily.
With this agreement Pro Kapital, as a promissory buyer, reserved its rights to buy the shares for the price of 12 million euros and initiated legal and financial due diligence.
Due to the due diligence results and taking into account the current global economic situation, Pro Kapital considers that the acquisition is not economically feasible and therefore Pro Kapital withdraws from acquiring the hotel company in Italy.
Edoardo Axel Preatoni
Member of the Management Board
Phone: +372 614 4920