Developers Plan Venice Hotel Revival After Debt Breakthrough
Developers have struck a deal with lenders including a hedge fund to end a decade-long impasse over an historic Venetian hotel, paving the way for a €200 million ($232 million) restoration.
Italian developer and asset manager COIMA and Abu Dhabi's Eagle Hills have agreed to buy legacy debts with a nominal value of €54 million held against the Grand Hotel des Bains in Venice, according to a statement on Monday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
10 hours ago
- Bloomberg
Millennium Stake Sale Talks Value Hedge Fund at $14 Billion
Izzy Englander's Millennium Management has been in discussions to sell a minority stake that values the hedge fund colossus at roughly $14 billion, according to a person familiar with the matter. The multistrategy firm is working with Goldman Sachs Group Inc. unit Petershill Partners to find potential buyers for a 10% to 15% stake, the person said, asking not to be identified because details of the deal discussions aren't public. The Goldman arm specializes in buying stakes in alternative asset managers.
Bloomberg
13 hours ago
- Bloomberg
Sabadell Explores Sale of UK Unit TSB Amid BBVA Bid, FT Reports
Banco Sabadell SA is assessing the possibility of selling its UK unit TSB as it seeks to ward off a takeover by rival BBVA SA, the Financial Times reported. Sabadell is working with advisers to explore the option and it has been in contact with potential bidders, according to the report, which cited unnamed sources. A spokesperson for Sabadell declined to comment when contacted by Bloomberg.
Bloomberg
14 hours ago
- Bloomberg
Gamma Offers 21% Stake in Italian Betting Firm Lottomatica
Lottomatica Group Spa 's largest shareholder Gamma Intermediate is seeking to sell its entire stake in the Italian betting company, worth about €1.2 billion ($1.4 billion). Gamma Intermediate is offering about 53.6 million shares through an accelerated share sale after markets closed in Italy on Monday, according to a statement. The stake represents about 21.3% of Lottomatica's outstanding share capital, and shares are being offered at €22.50 apiece, according to terms seen by Bloomberg.
