Economics
Lamda Raises Offer for Europe’s Largest Urban Plot
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A venture led by Lamda Development increased its initial offer by 25 percent for 100 percent of Hellenikon SA, topping an independent valuation, the Greek state-asset sales fund said.
Lamda, backed by China’s Fosun Group and Abu Dhabi-based property firm Al Maabar, submitted an offer of 915 million euros ($1.26 billion) for Hellenikon, with plans to develop the former Athens Airport site, the Hellenic Republic Asset Development Fund said in an e-mailed statement yesterday. The 6.2 million square-meter site is more than three times the size of Monaco.