Olayan, Saudi Arabia’s strongest business group is entering Costa Navarino as the fourth shareholder with an equal stake to those of the other three held by the Konstantakopoulos family. Media reports talk about a EUR 150 million investment.
The Saudi group will participate in the tourism enterprise by way of a share capital increase to strengthen the Costa Navarino resort and its further growth in the tourism sector. The aim of the move is not just to support the group’s next investment stage but also to supply liquidity, Kathimerini notes.
Founded in 1947, The Olayan Group is a private, multinational enterprise with diverse commercial and industrial operations in the Middle East and an actively managed portfolio of international investments.
The commercial side of the Group comprises more than 40 companies and is centered in Saudi Arabia, where the Group originated. They are engaged in distribution, manufacturing, and services. Many of these companies operate in partnership with leading multinational or regional firms. Some have operations in other Gulf countries and the wider Middle East.
With offices in Saudi Arabia, Europe, and the US, the Group’s global investment team focuses on public and private equities, real estate, fixed income securities, and other specialized assets.