Russian real estate developer PIK Group said on Monday that it has won several development contracts worth $1 bn (EUR 750 mln) via a tender process organised by the municipality of Moscow. The contracts will provide $1bn of municipal funds to be invested by the City of Moscow in housing construction projects.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
