Qatari Diar buys 22.7% of SFCMC

Qatari Diar, the investment firm belonging to the Qatari Investment authority, has purchased 22.76% of Societe Fermiere du Casino Municipal de Cannes (SFCMC) via holding company Casinvest. Casinvest is held 80% by Qatari Diar and 20% by EHC Capital Partners. The Desseigne Barriere family retains a majority of over 70% of the capital. The investor has an agreement with the owners to potentially up their stake in the company to 40%.

SFCMC owns the Majestic and Gray d'Albion hotels in Cannes as well as two casinos. Qatari Diar recently tried to increase their shareholding in Societe des Bains de Mer, the company responsible for Monaco's casinos although the transaction was blocked.

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