• Transaction / Assets
    Remainder of Gran Casino Extremadura
  • Seller
  • Buyer
    Orenes
  • € MM
    6

Orenes Buys Rest of Gran Casino Extremadura for €6M

6 February 2018 – Infoplay

The Gran Hotel Zurbarán de Badajoz, which houses Casino Extremadura, is changing hands once again three years after it was acquired by the Extremeñan bullfighter Miguel Ángel Perera (who is from Puebla del Prior and who now lives in Olivenza) and his partner Miguel Moreno, son of Gregorio Moreno Pidal. They have just sold the property to a group of businessmen from the hotel sector with a strong and consolidated presence in Badajoz. According to sources close to the operation, the new owners are the company Orenes, José Luis Iniesta, from the company that owns the Río de Badajoz Hotel Complex, and a third partner based in Madrid.

La Crónica de Badajoz newspaper reported a figure of €6 million changing hands and added that Orenes and Río were until now owners of the facilities of the Gran Casino Extremadura, for which they obtained the concession to operate from the Junta de Extremadura, as the owners of the only five-star hotel in the city, managed by NH. It just so happens that José Luis Iniesta, a businessman in the hotel and farm sectors and owner of Hotel Río – which is currently linked to the hotel room management company Mercure – has divested his shares in the Gran Casino company.

The businessman has sold his shares to his partner Orenes, for a figure of around €6 million. In this way, Orenes now owns 100% of that company, whilst Iniesta holds 100% of Río, according to the same sources.

The Gran Hotel Zurbarán sale operation was carried out by private contract on 27 December 2017 but has not yet been notarised as it is pending approval from the competition authorities. In this way, Orenes and Iniesta hold onto 80% of the ownership of the Gran Hotel.

Original story: Infoplay 

Translation: Carmel Drake

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