Landon Investments, the corporate venturing unit of Spain-based Grupo Corporativo Landon, has reportedly invested €3.5m ($5m) in local hotel chain Sercotel to take its stake to a majority position.
News provider Unquote said Landon had invested €8.5m in 2008 for a 47% stake in Sercotel and now owned 70%.
The latest investment will help Sercotel expand over the next five years in the eight main cities to which Spanish executives travel, Unquote added.
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