Lamda Development Sells 10%
- Written by Maria Athens
Greek real estate developer Lamda Development sold 10% of its shares to private equity group Blackstone, for 20.2 million euros.
The real estate company confirmed that seven Blackstone-GSO Capital Partners investment funds acquired 4.44 million euros of voting shares, priced at 4.55 euros each. This marked a 3.8% deduction, compared to yesterday's closing stock price of 4.73 euros.
In March, Greece's privatization firm chose Lambda to create a major seaside development at the old Hellenikon Athens airport in Ellinko. The project was funded by China's Fosun and Abu Dhabi's Al Maabar; it holds a 7 billion euro budget. It is considered one of Europe's most progressive real estate structures, that is predicted to alleviate Greece's financial burdens.
Related items
-
Polylimnio, the hidden treasure of Messinia (vid)
-
Turkey: Inflammatory rhetoric ahead of bilateral meeting
-
Greece-France ink deal for frigates and defense agreement
-
Monica Bellucci in Athens for three nights for play about Maria Callas
-
Greece - pandemic - What do infection specialists expect for the end of September?