CDP Equity buys 46% stake in Hotelturist for €20.4m

The government-backed GP (formerly known as Fondo Strategico Italiano) acquired a 46% stake in the business for €20.4m.

The company aims to use the capital injection to increase the number of hotels and resorts under management with 10 new facilities planned within the next five years. Furthermore, Hotelturist expects to increase its number of employees from 5,000 to 8,500.

CDP Equity is owned by Cassa Depositi e Prestiti (CDP), whose controlling shareholder is the Italian Ministry of Economy and Finance (MEF), with an 82.77% stake. The remaining stake is owned by Italian banks and foundations, with a 15.93% stake, and the management team with a 1.3% holding.

CDP Equity usually invest in minority holdings in Italian companies of a major national interest, according to the firm's website. The GP has a subscribed and paid-up share capital of €3.7bn and currently has 10 businesses in its portfolio.

Company
Founded in 1977 and headquartered in Padova, Hotelturist currently manages 19 facilities across the Italian market and trades under the name TH Resorts.

People
Hotelturist – Giorgio Palmucci (CEO).

Advisers
Equity – Gattai Minoli Agostinelli & Partners (legal).

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• Topics
• Expansion
• GPs
• Consumer
• Southern Europe
• Italy