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TODAY in Ibiza and Formentera
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Dubai holding company buys Pacha’s hotels and nightclubs for 320 million euros

César Navarro

Wednesday, July 12 2023, 9.00am

Dubai-based Five Holdings has acquired the hotel division and nightclubs of Grupo Pacha for around €320 million. Trilantic Capital Partners, the previous owner, will retain management of the Lío cabarets while focusing on their growth. The deal strengthens Trilantic’s international expansion plans and establishes Five Holdings as their new partner. Grupo Pacha will return the €18 million in government financing it received during the COVID-19 crisis. Two separate companies will be created to manage the different parts of the business.

For the full article, please visit Diario de Ibiza website here.