PARIS (Agefi-Dow Jones)–The investment company Eurazeo and Investissements PSP, a leading fund manager for pension funds in Canada, announced on Monday that they are creating a joint venture to initially invest until 300 million euros of equity in the European hotel sector.
“Eurazeo and Investissements PSP will invest equally in the joint venture, which should benefit from Eurazeo’s well-established experience in the sector, the recognized execution capacity of both companies and their commitment to a sustainable growth,” the two partners said in a statement.
The joint venture has already signed its first acquisition, acquiring the Spanish hotel group FST Hotels, which owns and operates a portfolio of 800 rooms in five hotels, mainly located in Madrid and Barcelona.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: VLV
Agefi-Dow Jones The financial newswire
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February 07, 2022 02:51 ET (07:51 GMT)