Danubius Increases Stake In Czech Spa Hotel

NEW YORK Danubius Hotels, the Hungarian hotel chain, is reported to have increased its stake in the Czech spa hotel company, Lecebne Lazne Marianske Lazne to 90.06%. Danubius recently boosted its stake to 64.98% following a buyout offer to minority stakeholders. Danubius is believed to have purchased a 22% stake from the Czech Privatisation Fund, as well as a further 3.08% stake from minority shareholders, at a price 30% lower than for earlier shares. (12/22/00) SOURCE: HVS International