Elran Investments, the group leading the Hilton Warsaw project, is to raise €260-350 through a flotation on the London stock exchange. Elran intend to set up an investment corporation with the aim of further investments in Central and Eastern Europe. A subsidiary of the group, Elran Real Estate, will transfer real estate assets as part of the flotation to its own subsidiary, Atlas Estates in exchange for shares.
Elran Real Estate has already invested €26.9 million in the Warsaw Hilton, which will require another €8.7 million for completion.
Source: Eurobuild
