The Grivalia Hospitality platform, part of the Grivalia Properties group, proceed with a 60-million-euro share capital increase this week, which was covered by current shareholders based on their ratio of share ownership.
Specifically, Grivalia Properties and Eurolife ERB Life Insurance Co. each allocated 15 million euros, while the remaining 30 million was derived from a new investment fund managed by M&G Investment Management Ltd.
After the share capital increase, Grivalia Hospitality capitalization reaches 180 million euros, with its investment plan aimed to develop the Asteria site in coastal southeast Athens, in the Glyfada municipality, as well as building a boutique hotel in the northern city of Thessaloniki.
