GIC to acquire a majority stake in Sani/Ikos Group at €2.3bn valuation.

GIC, a sovereign wealth fund, agreed to acquire a majority stake in Sani/Ikos Group, a group of luxury resorts in unique beachfront locations in the Mediterranean, from investment firms Oaktree Capital Management, Goldman Sachs Asset Management, Moonstone, Florac and Hermes GPE at €2.3bn valuation. “We are excited to welcome GIC on board and look forward to bringing the Sani/Ikos Group magic to guests across the Mediterranean and beyond. Over the past years, the Sani/Ikos Group has led a remarkable path, with significant investments, international expansion and strong financial performance. This was achieved despite the pandemic and thanks to the support of our shareholders, who were outstanding partners, and to our management and employees whose dedication and talent are second to none in our industry. We can now solidify our leading position across the Mediterranean, to the benefit of our shareholders, our people and the communities where we operate," Andreas Andreadis and Mathieu Guillemin, SIG CEOs.