Saudi El-Khereiji Family Invests €166 Million in Gruppo Barletta Hospitality
Major Investment and Stakeholder Changes in Gruppo Barletta
Introduction to the Investment
MILAN, May 25 (Reuters) - Italian hospitality group Gruppo Barletta on Monday welcomed the Saudi El-Khereiji family as a new investor, through a €166 million ($193.24 million) capital increase also involving Italy's Rovati family, valuing the company €1.172 billion post-money.
Details of the Transaction
El-Khereiji Family Acquisition
• The El-Khereiji family, through its Global Hotels Real Estate, will acquire a 8.5% stake through the transaction, a statement said.
Rovati Family Stake Increase
• The Rovati family, through FIDIM, will increase its stake to 23% from 12.5%.
Strategic Objectives of the Investment
Growth and Consolidation Plans
Focus on Arsenale Subsidiary
• The investment aims to support growth and consolidation at Arsenale, Gruppo Barletta's luxury hospitality subsidiary, including with upcoming extraordinary transactions.
Additional Information
($1 = 0.8590 euros)
(Reporting by Elisa Anzolin, editing by Alvise Armellini)