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
-
The 22nd Annual Capital Link Invest in Greece Forum: "Greece – Looking Ahead With Confidence"
-
Ankara did not like the EU sanctions resolution
-
Greece ranks 5th in top tourism brands
-
Number of American students studying in Greece shows steady rise, according to institute data
-
Tourism Min Theoharis presents Greece's initiatives at WTM