Swiss department store group Jelmoli has postponed the Extraordinary Shareholders Meeting which was to vote next week on a plan to split its business into separate listed real estate and investment units. The firm's board said the postponement was necessary because the finalisation of the refinancing arrangements for Jelmoli's debt facility was taking longer than anticipated due to the worsening financial climate.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
