Antoine Frey Boosts Stake in European Retail Leader

Firmament Participations, under the leadership of Antoine Frey, has augmented its stake in FREY, a prominent player in premium open-air shopping destinations across Europe. The investment arm acquired 800,000 shares from SCI Capimmo, representing a 2.48% increase in FREY's share capital. This acquisition elevates Firmament Participations' holding to 29.0% of FREY's share capital and 29.7% of its voting rights.

Such a strategic move underscores confidence in FREY's robust business model. As a prominent force in the retail park and outlet village sectors, FREY operates over 40 destinations in 10 countries. Their extensive portfolio comprises more than 1.2 million square meters of retail space valued at €2.6 billion. The company's sites draw approximately 140 million visitors annually.