Dolphin Capital Investments this week announced the sale of its Playa Grande Golf and Resort project in the Dominican Republic to Third Point LLC, the Company’s largest shareholder, for €140 million. This is the latest transaction in an on-going asset divestment initiative to improve liquidity, and follows the recent sale of DCI’s 49.75% stake in Aristo Developers Limited.
The disposal reduces total DCI Group loans to €102 million, which is a significant narrowing of the debt-asset ratio to 18.5%. The deal reaffirms DCI’s commitment to deliver value for shareholders, and the company is continuing to seek further asset realisations.
Dolphin Capital Investments is 0.5% of the portfolio as at 20 Nov 2016.
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