German property company DIC Asset said its share capital has increased from EUR 39 mln to EUR 46 mln following a capital increase last week which was more than five times oversubscribed and generated total proceeds of over EUR 52 mln. Shareholders in the Frankfurt-based company subscribed to all 6.5 million shares issued under the rights issue carried out in March 2011, and exercised their right to oversubscribe.
The Grand Hotel Imperiale in Forte dei Marmi, Italy has been sold to UAE-based real estate company Emaar Properties, owner of renowned buildings such as the Burj Khalifa and the Dubai Mall.
