IN parallel with the increase in its capital, ILD has formed the management company ILD Spain, which will have its head office in Tokyo. The British investment fund company Development Capital Management (DCM) has underwritten an increase in capital amounting to 40 million euros in International Leisure Development (ILD), the development consortium behind the Gran Scala leisure and gaming complex , which is planned to be built in the Los Monegros region of Aragon in Spain.
The deal, announced last week, gives the ILD management access to the DCM fund, thus making it the first shareholder in the Gran Scala development consortium, to be able to invest up to 17,000 million euros in dozens of hotels, Casinos and theme parks. Following this expansion, the ILD capital amounts to 41 million euros, "more than sufficient to cover the first phase of the project and start the process of procuring the land in Los Monegros on which the Gran Scala complex will be located", according to sources in the investor consortium.
The Director of the Department of Industry, Trade and Tourism in the Regional Government of Aragon, Arturo Aliaga, stated that the increase in capital achieved by the ILD consortium, "is simply a guarantee for the development of this project. If the group of investors comprising ILD did not want to proceed with the project it would never have taken the steps it has. 40 million euros is more than enough to cover the 20 million euros that it is estimated it will cost to acquire the land".
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- 30 September - 02 October, 2008
BEGE 2008 - Bulgaria
