Scandic to acquire Restel’s hotel portfolio

Avance advises Restel Oy in connection with the sale of its hotel portfolio to Scandic Hotels Group. Restel’s portfolio includes 43 hotels in Finland.

The acquisition price of the transaction is EUR 114.5 million on a cash and debt-free basis. The transaction is expected to close late Q4 2017, subject to regulatory approval and other conditions customary for this type of transaction.