Primus has advised the Olympic Entertainment Group, a casino operator listed on the NASDAQ OMX Tallinn Stock Exchange, on its EUR48 million sale of the newly opened Hilton Tallinn Park hotel to a company within the East Capital investment group. Raidla Ellex advised East Capital on the transaction, which remains dependent on the approval of the Estonian Competition Authority.
According to Primus, “the purpose of the transaction is to release capital that has been invested by Olympic into real estate, and to focus on the core business of the group – operating casino and entertainment complexes. Hotel and casino operations based in the building are not part of the sales transaction and will continue to be owned by the Olympic group."
Primus Tallinn, working in cooperation with real estate advisor Triple Net Capital, represented Olympic in all matters related to the transaction
The Raidla Ellex team consisted of Counsels Martin Kaerdi and Jaanus Ikla and lawyer Triin Tiru.
Image Source: hilton.com
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