Aquisition of ECHO shares
In December 2019, WING has acquired a 100% stake in Lisala, which in turn owns a 56 % stake in ECHO Investment, a company listed on the Warsaw Stock Exchange (WSE). Echo Investment is the largest Polish property development company and the only one with extensive experience across the entire range of residential, retail and office segments. Already the market leader in Poland in both the office and retail segments, the company has been strengthening its residential property market portfolio as well. With the transaction complete, WING Group has become a majority owner of Echo Investment.
In March 2020 WING acquired a further 10,04% shares of Echo. As a result, WING has increased its stake in Echo Investment to 66% from 55,96%.
As the main shareholder, WING intends to keep the company listed on the Warsaw Stock Exchange and continue its development in line with the current strategy. Both companies will be operationally independent.
