The corporate team at Gowling WLG has acted on Dolphin Capital Investors’ disposal of its Playa Grande Golf and Resort project, including the Amanera resort (the only Aman golf integrated resort in the world), to Third Point, the company’s largest shareholder, acting on behalf of certain funds managed and/or advised by it.
Dolphin Capital Investors (DCI) is a leading investor in high-end residential resorts in the eastern Mediterranean, Dominican Republic and Panama.
The disposal was agreed at an enterprise value of €140m. The consideration of €64m will be payable through €4.7m in cash and the retirement of all of the company’s €50m and $9.17m 2018 convertible bonds.
Partners John Reed and Michael Lacey worked on the deal, along with Associate Emily Troubridge.
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