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alternative Assets News: Spanish Real Estate Intelligence

CVC Capital Partners acquired Dogus marinas in Greece

CVC Capital Partners acquired the shares of D-Marin, of the Turkish Dogus group, in the marinas of Flisvos, Zea, Gouvia in Corfu, and Lefkada.

István Szoke, Managing Director of CVC Capital Partners, said: "With CVC's global network and experience, we intend to create the world's leading marinas company through both organic growth and acquisitions. Burak Baykan, CEO of D-Marin, said: "We are pleased to secure the support of CVC, a leading global investor, to internationally expand D-Marin and take the company to the next level”.

In May 2018, EBRD acquired a 25% stake in D-Marin.

About a year ago, Dogus sold its offices in Athens and announced that it is leaving Ioniki, the company that controls the Athens Hilton. CVC Capital already has a presence in Greece, in the health sector. The company controls the private Hospitals Ygeia and Metropolitan.

Original Source: Deal News

Adaptation/Translation: Kiki Athanasiadis

LAMDA development surpassed €650 m share capital increase target

The results from the increase in the share capital of LAMDA Development were impressive.

According to the announcement, the increase of the share capital by paying cash with preference to the old shareholders was successfully completed by raising funds of € 650.000.098.

More specifically, the Growth was covered by approximately 1.1 times as the demand from investors reached 105,737,572 shares. There were no unsold shares resulting in the final share capital increase of 100.00%.

The Company's share capital increased by €29,104,482.00 with the issue of 97,014,940 new shares (nominal value of € 0.30 each). Thus, the Company's share capital amounts to € divided into 176.736.715 shares.

The new shares will be credited to the accounts of the beneficiaries and the commencement of trading on the ATHEX on a date that will be announced by the Company.

Original Source: Banks.com.gr

Adaptation/Translation: Kiki Athanasiadis

GEK Terna and Mohegan closer to the Elliniko Casino license after Hardrock’s elimination

Reportedly, in its recommendation to the Gaming Control and Supervision Committee, the Tender Committee has rejected Hardrock's proposal due to serious problems and shortcomings in its bid.

The Minister of Development and Investments, Adonis Georgiadis has been informed of this development, and is expected to be called to announce the contractor.

What remains to be determined is whether Hardrock will appeal with the prospect of overturning the result. An appeal must be filed within 10 days and a response to the appeal will be issued within 20 days.

Mohegan Gaming and Entertainment's proposal in collaboration with GEK TERNA for Elliniko Casino includes a luxury hotel, entertainment venues, conference center, shops, restaurants, casinos, and high quality services. The project is expected to help launch a new era of tourism development and economic prosperity for Greece and the entire region.

The building's flagship design is a creation of Steelman Partners, an international architectural firm specializing in the design and construction of IRC complexes.

The inspiration for the architectural design comes from Greece's architectural past, and in particular from Athenian statues and buildings, including the Acropolis and the Caryatids.

Much of the complex was designed to take advantage of Greece's preference for outdoor activities, so that almost all restaurants, bars and nightclubs will offer both indoor and outdoor experiences. Dining areas and shops will include internationally recognized brands as well as popular Greek products that emphasize traditional Greek customs.

According to the Minister of Development and Investment, A. Georgiadis, the commencement of works in Elliniko has been postponed and is expected to start in 2020.

Original Source: Athina 984

Adaptation/Translation: Kiki Athanasiadis