Friday August 29, 2014 Search
Weather | Athens
31o C
24o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greek REIT said to seek $1.4 billion as foreign investors return

Pangaea REIC, the real estate investment trust owned by Invel Real Estate Partners and the National Bank of Greece SA, aims to raise about 1 billion euros ($1.4 billion) to invest in Greece and Italy, three people with knowledge of the matter said.

Pangaea, based in Athens, plans to issue bonds by the summer and offer shares to the public for the first time as early as October, according to the people, who asked not to be identified because the information is private. They declined to say what proportion of the proceeds each will account for.

Foreign investors are returning to Greece after a crisis that nearly pushed the country out of the euro, and the European Commission predicts the economy will grow for the first time in seven years in 2014. Regulators set a deadline of October 2015 for Pangaea’s IPO.

The Athens Stock Exchange General Index has jumped 182 percent since reaching a 22-year low in June 2012. The Hellenic Republic’s bonds returned 23 percent in the first quarter, the best performance among 34 sovereign-debt markets tracked by Bloomberg World Bond Indexes.

Ellie Sweeney, a spokeswoman for Invel at Powerscourt in London, declined to comment.

Invel, a London-based real estate investment firm led by Christophoros Papachristophorou, bought a 66 percent stake in Pangaea in December in a deal that valued the company at about 1 billion euros. Pangaea has since acquired real estate in Greece and Italy and currently has assets totaling 1.2 billion euros, the people said.

Papachristophorou is a former managing director at Deutsche Bank and global head of RREEF Opportunistic Investments.

[Bloomberg]

ekathimerini.com , Wednesday April 2, 2014 (11:52)  
Ministry launches work experience program for unemployed graduates
Tax burden in Greece among EU’s heaviest, study reveals
Coalition bent on protecting weaker groups
Loaded agenda for Paris talks
New Democracy aims to ease tax burden, attack SYRIZA’s policies as leaders’ Thessaloniki speeches near
New Democracy is to follow a two-pronged strategy in the coming days as it attempts to win over voters by pledging to tend to their tax concerns while also mounting a campaign to discredit S...
Infrastructure Minister assures officials over coastal revamp
A radical overhaul of the southern Athens coast at Faliro Bay will be put to tender in December, Infrastructure Minister Michalis Chrysochoidis said Friday at a meeting with officials from t...
Inside News
SOCCER
Tough draw for Greek sides in Europe League Greek stage
Following Thursday night’s high, when all three Greek teams competing in the Europa League made it into the group stage of the competition, a harsh reality struck Friday as they found out wh...
JUDO
Greek judoka Iliadis triples up as Aguiar stuns Tcheumeo
Greek star Ilias Iliadis claimed his third world title in the under-90kg category in Chelyabinsk on Friday as Brazilian Mayra Aguiar and Colombian Yuri Alvear won gold in the women’s under-7...
Inside Sports
ANALYSIS
Greek quest for debt relief faces hurdles in Paris
As Greek Prime Minister Antonis Samaras tries to follow Ireland and Portugal out the bailout exit door, he faces a month of bargaining. For a nation that’s already gone through the biggest d...
COMMENTARY
Stifled dreams
At more or less the same time every year, we see the same images of high school graduates looking through the Education Ministry’s lists of those who passed and those who failed the national...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Ministry launches work experience program for unemployed graduates
2. Tax burden in Greece among EU’s heaviest, study reveals
3. New Democracy aims to ease tax burden, attack SYRIZA’s policies as leaders’ Thessaloniki speeches near
4. Coalition bent on protecting weaker groups
5. Infrastructure Minister assures officials over coastal revamp
6. Deadline for ENFIA tax pushed back to September 30
more news
Today
This Week
1. Strong undersea quake occurs off island of Milos, felt in Athens
2. Greek quest for debt relief faces hurdles in Paris
3. Dozens of migrants intercepted in the Aegean
4. Rendi shootout leaves would-be hypermarket robber dead
5. Gov't jet carrying Venizelos back from Turkey conducts emergency landing
6. Tight security in place for City of Athens ceremony as GD MP, supporters to attend
Today
This Week
1. Brussels warns Greece over plans to allow construction near Korinos beach
2. Attack on gay couple in Athens leaves one man needing surgery
3. Merkel cites euro’s ‘construction flaws’ as economy sputters
4. Purification rituals
5. Second man held over double murder in Mani
6. The battle against progress
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.