SOCIETE DES BAINS DE MER
ET DU CERCLE DES ETRANGERS A MONACO
MONTE-CARLO SBM ANNOUNCEMENT
July 24th 2015,
The Management of Société des Bains de Mer (S.B.M.) is delighted to note soon the investment in its share capital by two prestigious new Shareholders:
- LVMH Moët Hennessy - Louis Vuitton
- GEG (Galaxy Entertainment Group, Macau)
With the execution of the share purchase agreement for selling part of its shareholding, the State of Monaco has enabled each of these two new Shareholders to hold 5% of the shares of the Company.
Following this operation, the S.B.M. Board of Directors will be strengthened by two new Board members to be proposed at the Shareholders' meeting. They will provide enhanced knowledge and expertise in the Gaming and Luxury industries, which should prove extremely beneficial to the Company's future.
This collaboration will assist the Company in developing its strategy especially as it relates to new and emerging markets.
The success of the capital increase launched last February, which raised 219.9 million Euros, as well as the introduction of two new internationally recognized Shareholders, highlights the relevance of S.B.M.'s strategic choices.
ISIN : MC0000031187
