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Almost half of Intercontinental Bucharest hotel shares seized

After the seizure of shares at Unirea Shopping Center, the National Anticorruption Directorate (DNA) has blocked and shares Adamescu family at the Hotel Intercontinental.

According to a press release sent to the Bucharest Stock Exchange (BVB) by Bogdan Alexander Adamescu, president of the Intercontinental Hotel Company Bucharest SA, DNA has seized 130.96 million shares held by Nova Group Investment Romania, a company owned by Adamescu family, to the Intercontinental.

However, DNA has seized further 274.23 million shares held by Cypriot offshore Mountbay Limited (a company with unknown shareholders) at the hotel company. This fact indicates that behind the offshore in Cyprus is still Adamescu.

The press reported that Mountbay and Nova Group are associated in another company, namely Zeta SPV Development which has as administrator Bogdan Alexander Adamescu, one of the two sons of Dan Adamescu.

The company Intercontinental has a total of 833 million shares, which means that DNA has laid sequester on 48% of the hotel company’s shares.

About Victor Lupu