Appeninn Nyrt. has acquired the ownership of Club Aliga in Balatonvilágos, thanks to the successful completion of the transactions for the acquisition of the 74.99% stake in PRO-MOT Hungária Ingatlanfejlesztő Kft. by Appeninn BLT Kft.

PRO-MOT Hungária Ltd. also owned the 37 hectares of Club Aliga and its 167 berth marina, as well as the management rights to a further 10 hectares of land owned by the Hungarian State. The total value of the transactions exceeded EUR 14.1 million. PRO-MOT Hungária Kft., a wholly owned subsidiary of Appeninn Holding, completed the transactions to acquire the majority stake in PRO-MOT by signing the closing protocols, settling the purchase price and acquiring the outstanding receivables from the company.

The parties announced the signing of the sale and purchase agreement last summer, with the closing of the transactions finally taking place on 29 January 2019 due to delays in the legal due diligence and asset valuation processes. The total value of the sale exceeded EUR 14.1 million.

Club Aliga, a former party resort covering just 47 hectares, was privatised in 2007. PRO-MOT Hungária Kft. bought 37 hectares of the entire complex and the 167 berth marina. The Israeli investor also acquired the 49-year trusteeship of the remaining 10 hectares from the Treasury Property Directorate in March 2007.

At Club Aliga, Appeninn Holding intends to continue to develop the site for tourism purposes, following a review of decades of development plans by the previous owner. If necessary, the company will develop a new development concept for the property, in dialogue with the municipal authorities and the resort owners.