On Tuesday (today), Mizzi Organisation Finance plc, the financing arm of The Mizzi Organisation, announced that subsidiary Mizzi Lease acquired FTI Holdings Malta Limited’s shares in the Institute of English Language Studies Limited (IELS).
Prior to the acquisition, Mizzi Lease held 50 per cent of the issued share capital in IELS. Following the acquisition, Mizzi Lease now holds the entire share capital of IELS, except for one ordinary share retained by a related company.
FTI Holdings is a subsidiary of Meeting Point Hotel Management Holding GmbH, part of the FTI Touristik Group that filed for bankruptcy earlier in 2024.
Mizzi Lease is a subsidiary of Mizzi Organisation and is one of the guarantors of the €45 million 3.65 per cent unsecured bonds maturing in 2031, issued in 2021.
IELS owns and operates an English language school, which has been operating and teaching English as a foreign language for nearly 40 years.
Located in Sliema, the school features 55 classrooms and has a capacity of 700 students. In addition, IELS owns and manages the Days Inn Hotel, a self-catering student residence offering accommodation that’s close to the school, consisting of 54 hotel rooms and 45 studios.
