Echo Investment spreads its wings with new investor
Hungary's leading real estate company Wing has signed a preliminary agreement to acquire a majority interest in Echo Investment, a Polish WSE-listed developer. Wing is a long-term regional strategic investor and sees great potential in Echo Investment. The new investor intends to continue growing the business consistent with the Strategy of Profitable Growth established by Echo Investment in 2016. This strategy has been executed by the Echo Investment management team with whom the new shareholder Wing will work with the goal of continuing to develop the company and its properties.
Lisala, which is the main Echo Investment shareholder and owns c.a. 56% of shares, informed Echo Investment on the anticipated change in its ownership structure. According to the signed preliminary agreement, Hungarian real estate company Wing intends to acquire 100% of Lisala. The transaction is subject to approval by the Polish antimonopoly authority.
(WBJ)
