Singaporean investor GIC has taken the joint largest stake of Mediterranean resort agency Sani/Ikos Group (SIG) alongside SIG’s administration crew.
The strategic partnership transaction valued the luxurious resort operator at €2.3 billion and is anticipated to shut in This autumn 2022, topic to regulatory approval.
Underneath the management of its founders, Stavros Andreadis, Andreas Andreadis and Mathieu Guillemin, who stay important shareholders, SIG has grown from the family-owned Sani Resort in Greece to a fast-growing luxurious resort owner-operator within the Mediterranean.
Since its creation in 2015 SIG has expanded its asset base and scale by an element of 4 with the backing of blue-chip buyers together with funds managed by Oaktree Capital Administration, Goldman Sachs Asset Administration, Moonstone, Florac and Hermes GPE who shall be promoting their stakes to GIC as a part of this transaction.
Andreas Andreadis and Mathieu Guillemin will proceed to handle SIG as CEOs and co-managing companions, whereas Stavros Andreadis will develop into honorary chairman of the group.
Funding plan increase
The brand new partnership with GIC is geared toward additional strengthening the sources out there to the group to ship on its five-year funding plan of over €900 million, contributing to the help of native economies and the creation of recent jobs within the Mediterranean.
Andreadis and Guillemin said: “We’re excited to welcome GIC on board and look ahead to bringing the Sani/Ikos Group magic to visitors throughout the Mediterranean and past. Over the previous years, the Sani/Ikos Group has led a exceptional path, with important investments, worldwide growth and powerful monetary efficiency. This was achieved regardless of the pandemic and due to the help of our shareholders, who had been excellent companions, and to our administration and staff whose dedication and expertise are second to none in our business. We will now solidify our main place throughout the Mediterranean, to the advantage of our shareholders, our folks and the communities the place we function.”
At the moment underneath growth is Ikos Odisia, a 395-room resort heading to Corfu, Greece, in Q2 2023, in addition to the 319-key Ikos Porto Petro, opening in Mallorca, Spain subsequent yr.
Persevering with European growth
GIC’s chief funding officer of actual property, Lee Kok Solar, mentioned: “We’re happy to companion the Sani/Ikos Group as they proceed their efforts to strengthen their model and increase their presence in Europe. The group’s belongings are well-located and the crew is understood for offering wonderful hospitality experiences. We consider this funding will generate resilient returns and is testomony to our confidence within the Greek and wider European tourism sector over the long run.”
The investor’s area head of Europe, actual property, Tracy Stroh, added: “Given its robust model, we consider the Sani/Ikos Group is well-positioned to capitalise on the expansion of the Mediterranean Europe resort market. We look ahead to working with SIG’s administration crew so as to add worth by enhancing present belongings and providing engaging resort lodging within the area.”