Oleg Gross's OG Elektra is acquiring Aqva Hotels and intends to complete the construction of a new spa hotel in Viljandi, which was started by the current owners, Delovye Vedomosti writes. "We have not yet signed the contract, but I am 99% sure that this deal will take place," Gross said in an interview with Lääne-Virumaa Uudised. "There are so many restrictions in Rakvere that I decided to invest in Viljandi," he added, referring to the delays in the construction of a high-rise building in Rakvere due to opposition in the city council. Aqva Hotels has a water park with 120 rooms in Rakvere. The spa hotel under construction in Viljandi will have 150 rooms. Negotiations are currently underway regarding the price of Aqva Hotels, with the difference in expectations between the buyer and seller amounting to several million euros. Gross declined to disclose the specific amount of the deal, saying only that the owners want to receive for the Aqva spa hotel an amount comparable to the cost of constructing a new building. Read more on dv.ee.
