Friday, 8 August 2014
Dolphin Capital Investors Limited closes a €40.4 million investment by Colony Capital into Amanzoe (GR)
Dolphin had signed a non-binding agreement with Colony Capital Acquisitions LLC, acting on behalf of managed funds (Colony), for a potential investment in the Company’s luxury resort hotel and villa complex located near Porto Heli, Peloponnese, Greece (Amanzoe), and Colony has since been performing legal, financial and technical due diligence on Amanzoe.
During this period the Company has been working with Colony to optimize the structure and the overall economic terms of the proposed transaction and Colony entered into final agreements with DolphinCI14 Ltd (the Company’s Cyprus subsidiary holding the Group’s shareholding in Amanzoe) for a €40,400,000 second priority loan facility (the 'Facility') into Amanzoe.
Amanzoe, located in the area of Porto Heli, Greece and opened in August 2012, comprises a resort of 38 pavilions and 4 beach cabanas, spa, the Aman Beach Club and a collection of Aman Villas, serviced by the hotel. Amanzoe is one of the Company’s Advanced Projects and is expected to generate operating profits for 2014 both from the hotel operations and from Villa sales.