Orbis to merge with Hekon-Hotele Ekonomiczne

Orbis has decided to merge with its subsidiary Hekon-Hotele Ekonomiczne. The formal owner aims to simplify the organizational structure, optimize tasks and functions, and streamline the management process. The deal should be implemented by Hekon-Hotele Ekonomiczne's owners. In 2012, Hekon-Hotele Ekonomiczne (Orbis was a 100 percent shareholder) had sales revenues of PLN 184 million. In 2003, Orbis purchased shares in Hekon from Orbis' sector investor Accor for PLN 404 million.