New personnel in the Supervisory Board in Echo Investment

The establishment of a new Supervisory Board in Echo Investment is a consequence of a purchase concerning the majority shareholding by Griffin Real Estate.

A statute establishing a new Supervisory Board was passed during a general assembly in Echo Investment. The greatest amount of votes – that is 304 075 993 was granted to Przemysław Krych and Maciej Dyjas – managing partners in Griffin Real Estate. The other new members are Kharim Khairallah, Laurent Luccioni, George Graham, Nebil Senman and Stefan Kawalec, whereas the list of foregoing members in the Supervisory Board included Wojciech Ciesielski, Andrzej Majcher, Mariusz Waniołka, Robert Oskard and Karol Żbikowski.

 

The agreement with a company owned by Griffin Topco III and fund managed by PIMCO concerning the purchase of 41,55 per cent of shares in Echo Investment was signed on 28th February. The purchase transaction is supposed to be finalized after receiving a permit from the European Commission.

 

It was informed in the middle of March that the FTF Columbus partnership owned by Michał Sołowow – which holds 41,55 per cent of shares in Echo – is going to apply for as quick as possible convocation in order to make some changes in the Supervisory Board. The application was related to the sales of company's shares to the benefit of the entity owned by Griffin Real Estate and PIMCO.

 

The Griffin Real Estate fund is registered in Luxemburg and it is controlled by the American Oaktree company. Griffin owns several properties in Poland, i.a. Warsaw Koszyki Hall, Renoma Shopping Mall in Wrocław and Supersam in Katowice.

 

Echo Investment SA is one of the biggest investment and developer companies in Europe. The partnership is realizing investments in four main sectors of the property market: residential building, shopping malls, office and hotel building. Moreover, the company realized over 100 projects in several dozen cities in Poland with the total area exceeding 1 000 000 sq. m. The partnership is also managing investments in Romania, Hungary and Ukraine.

 


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