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Oaktree and PIMCO complete takeover of 41.55% in developer Echo Investment

TAG'S: ECHO, Developers (Real Estate)



Oaktree Capital Management and PIMCo completed takeover of a 41.55% stake in real estate developer Echo Investment from investor Michal Solowow, the companies said in a press statement.



Shortly after the acquisition of the 41.55% stake in Echo Investment, the investors will announce a mandatory tender offer up to 66% of Echo’s shares, which will be guaranteed by PZU, the statement said.


Financing for the transaction was provided by insurer PZU's investment fund unit.


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