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GIC buys 25% stake in Dutch boutique hotel

Stake brings the Netherlands-based citizenM's enterprise value to two billion euros

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Published Wed, Mar 27, 2019 · 09:50 PM

Singapore

SINGAPORE sovereign wealth fund GIC announced on Wednesday that it has acquired a 25 per cent equity interest in Netherlands-based boutique hotel chain citizenM.

The stake brings citizenM's enterprise value to two billion euros (S$3.1 billion), but GIC declined to give the exact figure of the investment.

GIC

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