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GIC reaches €2.3bn deal to acquire Sani/Ikos Group

Global institutional investor GIC has entered into a strategic partnership agreement to acquire luxury beach resort group Sani/Ikos (SIG) in a €2.3bn deal. GIC will become the leading shareholder alongside SIG’s management team.

Other investors in the group include Oaktree Capital, Goldman Sachs Asset Management, Moonstone, Florac and Hermes GPE who will be selling their stakes to GIC as part of this transaction.

Founded in 2015, SIG owns and operates luxury resorts in the Mediterranean. It recorded a 52% year-on-year increase in bookings this year and a 59% increase when compared with 2019. Its Ikos concept resorts were named TripAdvisor’s Traveler’s Choice Best All-Inclusive category for five consecutive years to 2022.

GIC’s investment will strengthen the resources for the group to deliver its €900m five-year investment plan.

Tracy Stroh, Region Head of Europe, Real Estate, GIC, said: “Given its strong brand, we believe the Sani/Ikos Group is well-positioned to capitalise on the growth of the Mediterranean Europe resort market. We look forward to working with SIG’s management team to add value by enhancing existing assets and offering attractive resort accommodation in the region.” 

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