Insurance group Santa Lucía is reported to be in advanced negotiations to join the shareholding structure of Ballesol, one of the Spanish market leaders for elderly homes. Ballesol's shareholders, real estate group Lar and 3i, have expressed their intention to sell their stake after completing the company's development plan. In Spain, financial institutions such as building societies and insurance groups have seen the elderly homes market as a rich deal source.
Deal includes three manufacturing facilities located in Spain, which employ around 140 staff
GP acquired the care home group from Swiss Prime Site and will be the company's sole shareholder
Iris, Idinvest and historical backers invest in the manager of the eponymous social media app
GP uses its Mérieux Participations 3 fund, which held a first close on €200m in 2018