One Of The Most Famous Thermal Baths In Hungary To Be Sold
- 11 Jan 2017 11:00 AM
The Rác baths in Budapest will be sold in an open tender, Sándor Börcsök, the liquidator of the companies that renovated the historic thermal baths said in Tuesday’s issue of business daily Világgazdaság. The baths’ developers were declared companies of “special strategic importance” by the government last year, which allows the possibility of a closed sale of their assets, the paper noted.
A closed sale would require meeting strict conditions, conditions which have not yet been met at this point in the liquidation procedure, Börcsök said. Creditors have filed claims for close to 10.6 billion forints (EUR 34m) from Rác Beruházó, one of the developers that renovated the baths.
The deadline for filing for claims from Rác Nosztalgia, the other partner in the project, has not yet passed.
The liquidation procedure was initiated by the Budapest Municipal Council, which earlier bought, at a discount, a 7 billion forint loan the developers took out from the state-owned Hungarian Development Bank (MFB).
Republished with permission of Hungary Matters, MTI’s daily newsletter.
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