ATHENS, Greece, October 28, 2024--(BUSINESS WIRE)--Regulatory News:
The Azur Selection, the "Company" (ISIN : GRS528003007 - Mnémonique : MLAZR), a leading player in the hotel investment sector, announces that it has entered into an agreement with the investment company LDA Capital (the "Investor" or "LDA") for the establishment of an equity financing facility for a maximum total gross amount of €15 million over a period of three years, through the issue, in instalments and at the sole initiative of the Company, of new shares in the Company (the "New Shares").
The Azur Selection currently manages a portfolio of commercial properties and hotels mainly in Athens and on the island of Mykonos, while maintaining long-term leases with the companies or users of its properties. Its portfolio includes 7 hotels (4 are sublet to a hotel operator and 3 are fully managed), as well as 1 shopping mall and 1 multipurpose commercial property (hotel, restaurant, retail shops). The group is managed by experienced executives with knowledge of the Greek and international property markets.
The continuous increase in tourism, especially in regions such as Greece and the French Riviera, presents a significant growth opportunity for Azur Selection to expand its portfolio. With a proven track record of successfully managing a profitable real estate portfolio, The Azur Selection is well-positioned to capitalize on the increasing demand in these desirable destinations. Their experienced management team, with deep expertise in both local and international property markets, ensures they can navigate the complexities of these regions and continue delivering high-quality, profitable investments. LDA’s funding will provide The Azur Selection with further financing that allows the Company to continue its growth strategy and accelerate its developments in these selected highly commercial geographical areas.
The purpose of this funding is to provide The Azur Selection with further financing to allow the Company to continue its growth strategy and accelerate its developments in selected highly commercial geographical areas in Greece, the French Riviera and elsewhere.
The full description of the financing agreement authorised by the board of directors of the Company is available on the company’s website.
Mr George Arvanitakis, CEO and principal shareholder of the Company, comments: "We are thrilled to have secured this financing from LDA Capital as it will allow us to strengthen our balance sheet while allowing us to accelerate our development and growth."
Mr Warren Baker, Co-Founder and Managing Partner at LDA Capital, states: "LDA Capital is excited to partner with The Azur Selection as they continue to excel in managing a diverse real estate portfolio in prime markets like Greece and France. Their experienced team consistently delivers operational excellence, and with a strong pipeline of projects, we see tremendous growth potential. Our investment will enhance their expansion efforts, and we look forward to supporting their ambitious plans."
About The Azur Selection
The Azur Selection invests in hotels and commercial property through a lease and sublease model and operates an investment management business through its subsidiaries and associated companies. The group focuses on hotel, hospitality and property investment in selected highly commercial geographical areas in Greece, the French Riviera and elsewhere.
Azur Selection S.A. (MLAZR) is listed on the Euronext Access + market in Paris.
LDA Capital is a global alternative investment group with expertise in complex, cross border transactions. LDA Capital has successfully completed more than 300 financings and business partnerships with both listed and private companies in 43 countries, with a total transaction value of over US$11 billion. LDA’s real estate investment activities span Latin America, the Caribbean, and Europe, providing exposure to a diverse range of real estate asset classes within its varied portfolio.
This announcement and the information contained herein do not constitute an offer to sell or subscribe for, or the solicitation of an order to buy or subscribe for, any securities of the Company in any jurisdiction, by the Company or any other person.
The publication or distribution of this announcement may, in certain jurisdictions, be subject to restrictions. Recipients of this announcement in jurisdictions where this announcement has been published or distributed should inform themselves of and observe any such restrictions.
The information contained in this announcement is provided for information purposes only and does not purport to be complete or exhaustive. No person can or should rely for any purpose on the information contained in this announcement or on its accuracy or completeness. The information contained in this announcement is subject to change.
This announcement does not constitute an offer of securities or a solicitation to buy or subscribe for securities or a solicitation to sell securities in the United States of America. The securities offered hereby have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the U.S. Securities Act. The Company does not intend to register any of the securities referred to in this announcement in the United States of America or to conduct any public offering in the United States of America.
The distribution of this announcement in certain countries may constitute a violation of applicable legal provisions. The information contained in this announcement does not constitute an offer of securities in the United States of America, Canada, Australia or Japan.
