06/04/2025 | Press release | Distributed by Public on 06/04/2025 15:00
On May 30, 2025, Falcon's Beyond Global, Inc. (the "Company"), through its Producciones de Parques, S.L. ("PDP") joint venture with Meliá Hotels International, S.A. ("Melia"), completed the sale of the Sol Tenerife Hotel to Melia and its other third-party joint venture partner. The transaction was structured as a sale of all of the shares of Tertian XXI, S.L., a wholly-owned subsidiary of PDP which owns the real estate assets comprising the resort hotel. The purchasers paid an aggregate of €70,823,684, representing the estimated purchase price for the shares of Tertian XXI, S.L., which purchase price is subject to adjustment based on the difference between estimated working capital, debt, and deferred taxes and final working capital, debt, and deferred taxes calculated following the closing. Pursuant to the terms of the PDP joint venture, the Company will receive approximately €21,000,000 in the transaction, subject to post-closing adjustments.