Appeninn has acquired majority ownership in Solum Invest Ltd.

2020
January
10
News

Appeninn Holding Asset Management Plc. purchased 76% of the business quotas of Solum Invest Ltd. engaged in property development and operation. Based on the agreements previously concluded by the project company, Appeninn Plc. became entitled to build hotels, and implement developments related to these activities. The acquisition supports the development and growth of the Company’s tourism segment.


Appeninn Holding Asset Management Plc. became the owner of 76% of Solum Invest Ltd. subsequent to the conclusion of a sale and purchase agreement with the business engaged in property development and operation. As a result of the transaction, Appeninn Plc. acquired an area of almost 2 acres by Lake Balaton. Furthermore, with the acquisition of the business quotas, Appeninn Plc. became entitled to build hotels, and implement related developments, based on the agreement made previously by Solum Invest Ltd. 

The value of the purchased target company is further increased by the fact that it owns a port suited to receive nearly 200 sail boats, the development of which is also one of the plans to be executed by Appeninn Plc. 

In this regard, the Chairman and CEO of Appeninn Plc., Tamás Bernáth said that given that the real estate company has purchased almost 80% of the project company, the growth of the tourism segment as well as the development of activities related to this field were founded. The rights acquired by way of the purchase of the ownership, such as the right to build hotels, further development activities to be implemented in the area and the possibilities of future operating activities all constitute great growth potential for the company.