Hili Ventures has increased its stake in Tigné Mall plc to 31.63 per cent following its acquisition of BOV’s shares in the company in early November, having previously acquired a 12.81 per cent shareholding from HSBC Bank in October.
Hili Ventures, through the publicly listed subsidiary Hili Properties, owns and manages several retail complexes in Romania, Latvia, Estonia, and to a lesser extent, Latvia. The assets include McDonald’s restaurants, grocery-anchored retail complexes, dedicated business blocks, an industrial plant and a hospital.
At the date of its Initial Public Offering in 2021, only one per cent of Hili Properties’ real estate by value was situated in Malta.
The purchase of a significant stake in Tigné Mall plc represents the first retail complex in Malta for the group, with a Hili representative describing the investment as fully aligned to the group's strategy.
Hili’s shares in Tigné Mall plc are held by Marsamxett Properties Ltd, a wholly owned subsidiary of Hili Ventures Ltd, now representing a total market value of over €16 million at current market rates.
As at the date of purchase, the total value of the shares stood at €14.6 million.
The Point Shopping Mall, owned and managed by Tigné Mall plc, has positioned itself as a prime shopping destination for both locals and tourists. Its strategic location, tenant mix and financial performance show the business is well-poised to grow and capture new opportunities.
This investment is the first retail complex in the group’s Malta portfolio, underlining the group’s commitment to maximizing commercial and value potential of its assets, while instilling confidence in its homebase.
Hili Ventures is the holding company of a diversified group with a deep-rooted entrepreneurial heritage dating back to 1923. Through its various subsidiaries, Hili Ventures is engaged in food service & retail, real estate & hospitality, and shipping, engineering & technology in 11 countries across Europe and North Africa with a team of 11,000+ people.
From its headquarters in Malta, Hili Ventures steers its subsidiaries towards continued growth in selected sectors and markets. Hili Ventures is a proud partner of Apple, iRiparo, Konecranes, McDonald’s, Microsoft, NCR, Six Senses and many other global brands.