October 17, 2022

Potential acquisition of a hotel company in Sicily by AS Pro Kapital Grupp

AS Pro Kapital Grupp (Pro Kapital) has signed on April, 26 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 initiates legal and financial due diligence. Pro Kapital had time until September, 30 2022 to decide whether to proceed with the transaction or decline.

As the legal and financial due diligence has taken longer than expected, the parties have agreed that Pro Kapital has until January, 31 2023 to decide whether to proceed with the transaction or decline.

Domina Zagarella with its 340 hotel rooms and various facilities is located in Santa Flavia, on the seaside, just a few kilometres from Palermo.