Global integrated event solutions and services group, GL events has welcomed the investment fund Atream and CARAC as new shareholders of Polygone and GL events. (Atream, which is a specialist in real estate in the tourism sector – is part of the CARAC group – a mutual insurance company. Polygone is the holding company of GL events).
Atream and CARAC acquired 5.3% of Polygone stock from Le Grand Rey (holding company of GL events chairman Oliveir Ginon) and 1.5% of the share capital of GL events off market.
Following these acquisitions, the Confluence investment vehicle (managed by Atream on behalf of Atream and CARAC) will hold a seat on the Boards of Directors of Polygone and GL events. Olivier Ginon (pictured) and the companies he controls say they will not act in concert with Atream, and the main provisions of the shareholders’ agreement to be concluded between Atream and Le Grand Rey will be disclosed in accordance with applicable regulations.
Ginon commented: “We are delighted to welcome Atream and its shareholder, the CARAC Group, as a new long-term shareholder of GL events and Polygone… Their contribution and experience will be valuable assets in supporting sustainable growth and creating value for all shareholders.”
Grégory Soppelsa, Atream CEO, said the transaction positions Atream in the MICE (Meetings, Incentives, Conferences, Exhibitions) sector, a key component of the tourism industry, thus complementing its leisure activities.
Source: www.exhibitionworld.co.uk
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