Grand Metropolitan Hotels Ends Joint Venture with Berlin Pension Fund Due to Financing Deadlock
📈 Grand Metropolitan Hotels is ending its joint venture with Berlin's dentists’ pension fund, VZB, due to deadlock over financial decisions. The Smura Family Holding owns 70% of the venture, while VZB owns 30%. Failed negotiations included a blocked capital increase and rejected buyout offers. Grand Metropolitan will focus on hotel management, franchising, and digital solutions, proceeding with independent development. Legal advisers are handling the separation, and the group will not comment further on legal matters.
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