Singapore's wealth fund acquires majority stake in Sani/Ikos Group

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The Ikos Olivia in Halkidiki, Greece.
The Ikos Olivia in Halkidiki, Greece. Photo Credit: Kiev.Victor/Shutterstock

Singaporean sovereign wealth fund GIC has acquired a majority stake in Mediterranean luxury resort company Sani/Ikos Group.

The deal, which is expected to close in the fourth quarter of this year, values the company at about $2.24 billion.

Sani/Ikos Group owns and operates 10 resorts in Greece and Spain under the Sani and all-inclusive Ikos brands.

The hospitality company plans to expand throughout Greece and Spain with upcoming openings in Corfu, Crete and Mallorca. It also will make its Portugal debut with a resort in Algarve.

Following the transaction, Sani/Ikos Group will be led by its founders -- Andreas Andreadis and Mathieu Guillemin as co-CEOS and co-managing partners, and Stavros Andreadis as honorary chairman. 

GIC's investment comes as Sani/Ikos Group reports a robust performance for 2022, with bookings up 57% from 2019. 

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