Belmond Acquires Castello Di Casole in Tuscany, Italy for €39 Million ($48 Million)

Belmond Ltd. | February 8, 2018

HAMILTON, Bermuda--Belmond Ltd. (NYSE: BEL) ("Belmond" or the "Company") today announced that it has acquired Castello di Casole, a luxury resort and estate in Tuscany, Italy. The Company purchased from the current owner the entire equity capital of two entities that together own Castello di Casole, one of the largest private real estate properties in Tuscany. The purchase price, including transaction costs, is approximately €39 million ($48 million) with a possible further €2.85 million ($3.5 million) payable contingent upon certain real estate sales being realized. The property is the latest addition to Belmond's family of '...