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Denuo advises Cosmos Hotel Group on EUR200m acquisition of hotel business from Wenaas Hotel Russia

press releases
27 / 04 / 2023
Denuo has advised Cosmos Hotel Group, a subsidiary of diversified publicly traded Russian investment company Sistema, on the EUR200 million acquisition of a 100% stake in a number of Russian companies owning ten hotels, the majority of which are operated by Radisson Hotel Group, in four Russian cities from Norway’s Wenaas Hotel Russia.

As a result of the transaction, Cosmos Hotel Group added to its portfolio six hotels in St Petersburg, two hotels in Moscow, one in Murmansk and another in Yekaterinburg.

The Denuo team was led by Constantine Lusignan, managing partner in Russia and the CIS, assisted by Real Estate legal director Anna Krutik and associate Alexandra Kuznetsova. Negotiations with the operator, Radisson Hotel Group, were coordinated by Pavel Elnikov, head of Hospitality.

We are very proud to have been part of this landmark project, one of the largest in the Russian hospitality and commercial real estate market, having an ambitious goal of strengthening the premium hospitality offering across Russia.

Constantine Lusignan
Constantine LusignanManaging Partner, Russia and CIS