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Orbis to buy Budapest Sofitel for EUR 42.25m

Orbis to buy Budapest Sofitel for EUR 42.25m

BUDAPEST: Listed hotel operator Orbis has signed a deal to buy the company owning the Sofitel Budapest Chain Bridge from Universale International Realitäten GmbH for EUR 42.25 million, state news wire MTI quoted Polish news agency PAP as reporting Tuesday.

The deal, which the company announced in a market filing, is subject to approval by the Hungarian competition authority.

To date, Orbis has been leasing the hotel from its owner.