OREANDA-NEWS. November 16, 2011. A major hotel owner and manager affiliate of Event Hotel Group has purchased the 280-room hotel Radisson Blu and adjacent office building in Tallinn, Estonia. The city centre high-rise Radisson Blu will continue to operate under the Radisson Blu flag under management of Event Hotel Group, reported the press-centre of SORAINEN.

"Becoming a member of the EU, some 10 additional flights to Tallinn, being the Cultural Capital of Europe and a meaningful increase of Russian visitors underpin our confidence in buying this highly visible hotel with a major brand recognition in the Baltics, Scandinavia and Russia", says Anders Braks, CEO of Event.

SORAINEN advised Event Hotel Group in its acquisition of the company owning and operating Radisson Blu, one of the principal hotels in Tallinn. The target's distressed situation meant that their bank was heavily involved in the deal. SORAINEN advice included legal due diligence plus drafting and negotiating the transaction documents including the financial documents.
The SORAINEN team in this project was led by partner Kaido Loor and senior associate Paul Kunnap.