Grivalia Properties on Friday announced the completion of a share capital increase for its subsidiary, Grivalia Hospitality SA, worth 60 million euros.
According to a press release, Grivalia Properties announced its participation in the equity capital of hotel operator Grivalia Hospitality SA, based in Luxembourg, through the share capital increase, which was fully covered.
Grivalia Properties and Eurolife ERB Life Insurance Co. have already invested 60 million euros in the company.
Following completion of the deal, Grivalia Hospitality’s equity capital totals 120 million euros: one share equaling one euro, of which 25 percent are owned by Grivalia Properties, 25 percent by Eurolife and 50 percent by the new investor.
The manager of the new investment vehicle is London-based M&G Investment Management Ltd.
