Tel Aviv-based real estate firm Alrov is reportedly in the running to buy an asset in London's Covent Garden, the Broitis State Gazette reported. The Israeli company, which offered some EUR 58 mln for the building, plans to convert it into a 150-room hotel. Alrov, controlled by chairman Alfred Akirov, owns properties across Switzerland, France and Israel. It operates abroad mainly through its subsidiary PIH, which is due to make an initial public offering on the London Stock Exchange next week.
Tel Aviv-based real estate firm Alrov is reportedly in the running to buy an asset in London's Covent Garden, the Broitis State Gazette reported. The Israeli company, which offered some EUR 58 mln for the building, plans to convert it into a 150-room hotel. Alrov, controlled by chairman Alfred Akirov, owns properties across Switzerland, France and Israel. It operates abroad mainly through its subsidiary PIH, which is due to make an initial public offering on the London Stock Exchange next week.
On Wednesday, Alrov received an unsolicited NIS 3 bn (EUR 514 mln) bid from Arko Holdings. The offer represented a premium of 42% on the company's share price when the market closed on Tuesday.
