Swiss construction services group Implenia is teaming up with Russian property developer Russian Land in a new 50/50 joint venture called Russian Land Implenia (RLI). RLI will take over the planning, execution and subsequent management of all Russian Land's 16 construction projects, including the redevelopment of the former Hotel Rossia site, adjacent to the Kremlin.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
