Appeninn Vagyonkezelő Holding has acquired a 76 percent stake in Solum Invest Kft., a real estate development and operating company. Based on the previously concluded contracts of the project company, Appeninn Plc. is entitled to build hotels and carry out developments related to this activity. The acquisition will support the development and growth of the company's tourism segment.

Appeninn Asset Management Holding has become the 76 percent owner of Solum Invest Kft., after concluding a sale and purchase agreement with the real estate development and operation company. As a result of the transaction, Appeninn Nyrt. will acquire a 2 hectare site on the shore of Lake Balaton. Furthermore, with the acquisition of the business share, Appeninn Nyrt. is also entitled to build hotels and carry out related developments on the basis of the contracts previously concluded with Solum Invest Kft. 

The value of the acquired target company is further enhanced by the fact that it has a marina with a capacity of nearly 200 sailing vessels, the development of which is also planned by Appeninn Plc. 

Tamás Bernáth, Chairman and CEO of Appeninn Nyrt., said that by acquiring almost 80 percent of the project company, the real estate company has laid the foundation for the growth of its segment focusing on tourism facilities and the development of its activities in this area. The rights acquired through the acquisition, such as the construction of the hotel, the various development works that can be carried out in the area and the possibility of future operations, all represent significant growth potential for the company.