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Nicklas Lindberg, CEO of Echo Investment. Credit: Echo Investment

Echo Investment spreads its wings with the new main shareholder

Hungarian real estate company Wing has signed a preliminary agreement to acquire majority interest in Echo Investment, a Polish developer listed on the Warsaw Stock Exchange.

Wing is a long-term regional strategic investor and sees great potential in Echo Investment. The new investor intends to continue growing the business consistent with the Strategy of Profitable Growth established by Echo Investment in 2016. This strategy has been executed by Echo Investment management team with whom the new shareholder Wing will work with the goal of continuing to develop the company and its properties.

Lisala, which is the main Echo Investment shareholder and owns c.a. 56% of shares, informed Echo Investment on the anticipated change in its ownership structure. According to the signed preliminary agreement, Hungarian real estate company Wing intends to acquire 100% of Lisala. The transaction is subject to approval by the Polish antimonopoly authority.

“During the last four years we successfully turned the company from a long-term holder of completed assets to a pure developer, in line with the Strategy of Profitable Growth. Echo Investment is well prepared to continue growth in Poland, building residential, office and the urban destination projects. We have almost 90 projects in the pipeline, with the total estimated usable area of c.a. 1.3 million sqm. With the support of a new, long-term investor also being a developer, we are convinced that Echo Investment will continue its growth and strengthen its market position”, said Nicklas Lindberg, CEO of Echo Investment.