Prince Aklile Berhan Mekonnen has expressed a renewed interest in acquiring Ghion Hotel in the aftermath of the latest unsuccessful tender.

It is to be remembered that Aklile Berhan had signed a 512 million US Dollar joint venture agreement with the Ethiopian Privatization and Public Enterprises Supervising Agency made in 2010

The Ethiopian born prince however defaulted on the deadline for the 210 million US dollar initial payment established by the agreement. PPESA went ahead and put the hotel up for bid several times changing its terms to offer full privatization when it found no interest for a joint venture. The prince is attempting to open negotiations with the PPESA following the failure of the last round of bidding through a letter sent to Beyene Gebremeskel, Director of the PPESA.

Aklile noted that his interest in reviving negotiations with the government agency with the aim of implementing the agreement he said.

He is attempting to launch negotiations again after the announcement of the failure of the latest tender as reported in the media according to Aklile. He is aware that that PPESA is yet to find a viable bid in lieu of the one he is offering and is particularly motivated by the changes made in the offer he noted in his letter.

Source: Capital