MARTI HOTELS and MARINAS Secures Up To TRY 59,4 Million From GEM Global Yield Fund
29 Mar, 2018, 13:57 BST
ISTANBUL, March 29, 2018 /PRNewswire/ --
Marti Hotels and Marinas ("MARTI" or "MARTI A.Ş." or "Company") has signed a funding facility for an amount of up to TRY[59.4] million under a Share Subscription Facility ("SSF") and Call Option Agreement, (the "Agreement") with GEM Global Yield Fund, the private alternative investment group.
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This maximum amount will be raised from a combination of instruments, TRY45 million from the SSF which shall be applicable for a period of three years and TRY[14.4] million under a call option that can be exercised by GEM Global Yield Fund within a period of three years for [8] million shares, at a price which represents TRY [1.8] per share.
This new Agreement will be used to provide strength to the working capital of the Company.
About MARTI HOTELS and MARINAS
Marti Hotels and Marinas was founded by Narin family in 1967 and has started its operations 50 years ago with the first resort hotel of Turkey called "Marmaris Marti Resort". As the pioneer company in the sector from the beginning of the operations, Marti has become the first listed Turkish tourism public company under Istanbul Stock Exchange in 1990.
Currently, Marti Hotels and Marinas has 1200 employees and continues its operations with 100% customer satisfaction approach by running 6 hotels with 2300 bed capacity, and a marina with 380 yacht capacity. By having more than 50 years of experience in the sector, Marti Hotels and Marinas aims at carrying its success to the future through new moves and investments as part of its vision.
For detailed information:
MARTI HOTELS and MARINAS
About GEM:
Global Emerging Markets (http://www.gemny.com ) was founded in 1991. GEM is a USD 3.4 billion investment group having completed 375 transactions in 72 countries. The firm is an alternative investment group that manages a diverse set of investment vehicles across the world. GEM's investment vehicles provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum. Each investment vehicle has a different degree of operational control, risk-adjusted return and liquidity profile. Our family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs) and select venture investments. GEM's funds include: CITIC-GEM Fund, Kinderhook, GEM Global Yield Fund, GEM India and VC Bank/GEM Mena Fund*.
(*GEM exited both its LP and GP stakes in Q1 2010.)
For more information, please contact:
MARTI HOTELS and MARINAS
http://www.marti.com.tr
GEM:
Aude Planche
Partner
28 Cours Albert 1er, 75008 Paris
Tel: +33-1-53-53-20-10
Email: aplanche@gemgroup.ch
SOURCE MARTI HOTELS and MARINAS