Merlin Properties Postpones Acquisition of BBVA’s Stake in the Distrito Castellana Norte

3 January 2020 Merlin Properties has postponed its acquisition of shares in the Operation Chamartín from BBVA due to its discontent over the current direction of the Distrito Castellana Norte (DCN). Together with the 14.46% stake the firm had acquired from San José, the acquisition would have made Merlin the largest shareholder in the mega-development.

At the same time, the government of the Community of Madrid is slowing down its approval of zoning regulations for the new urban development.

Merlin Properties ha postergado su adquisición de acciones en la Operación Chamartín de BBVA debido a su descontento por la dirección actual del Distrito Castellana Norte (DCN). Junto con la participación del 14,46% que la empresa había adquirido de San José, la adquisición habría convertido a Merlín en el mayor accionista del mega desarrolló.

Al mismo tiempo, el gobierno de la Comunidad de Madrid está retrasando su aprobación de regulaciones para el nuevo desarrollo urbano.

Original Story: Eje Prime

Translation/Summary: Richard D. Turner


LMEY to Acquire Thomas Cook’s Spanish Hotels

3 October 2019 – The Swiss fund LMEY  is considering the acquisition of the 50% Thomas Cook Hotel Investments (TCHI) it does not yet own. TCHI, which owns five holiday resorts in Spain, could become 100% controlled by LMEY after the British tour operator’s bankruptcy.

In 2018, Thomas Cook and LMEY created the joint venture TCHI to create a chain of resort accommodations in the Mediterranean. TCHI’s portfolio of nine properties (four in Greece in addition to the five Spanish) is estimated to be worth approximately €250 million.

In Spain, TCHI owns Casa Cook Ibiza, Sunwing Arguineguin (Canary Islands), Aldiana Andalucía and Aldiana Costa del Sol (both in Cádiz).

Original Story: Expansión – Roberto Casado

Photo: E.F.E.

Adaptation/Translation: Richard D. K. Turner