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.
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