CMS advises HETA in the sale of the Holiday Inn Sarajevo

HETA ASSET RESOLUTION AG (Heta) has, together with the liquidator, successfully sold the Holiday Inn Sarajevo to “Europa d.d. za ugostiteljstvo i turizam“. CMS advised Heta in this sales process. It was agreed that the purchase price should remain confidential.

The sale of the Holiday Inn Sarajevo to the Bosnian tourism company “Europa d.d. za ugostiteljstvo i turizam” was successfully completed on the 19th of July. Heta worked together in the recovery proceedings with the liquidator of the “Holiday Sarajevo Hotelsko turisticko Drustvo Sarajevo d.o.o.” A CMS team from Vienna and Sarajevo provided advice in these proceedings, which were conducted as a public sales process, in compliance with the applicable Bosnian rules of procedure.

The Lead Partner, Alexander Rakosi (CMS Vienna), was pleased to announce that, “the sale of the Hotel Holiday Inn marks an important step in Heta’s settlement activities in Bosnia. We were pleased to be able to assist our client in the sale of this building, which is both rich in history and situated in the centre of Sarajevo.” He and the Partner Nedzida Salihovic-Whalen (CMS Sarajevo) were supported by Aakriti Chandihok (Attorney-At-Law, CMS Vienna) and Zlatan Balta (Associate, CMS Sarajevo).