Rowsley shareholders approve acquisition of football-themed cafe and hotel

It will now hold a 50% stake in GG Collections.

Shareholders of the mainboard-listed real estate and investment company have approved its plan to acquire a 50% stake in GG Collections, a company which owns football-themed tourism assets in the UK.

Rowsley will also acquire 75% of Hotel Football, a Manchester football-themed boutique hotel, and 75% of Café Football, a football-themed cafe.

The proposed investment amount is £29.1 mil (est. S$64.1 mil) for 75% shareholding in the 3 companies owning the assets.

Rowsley believes that the acquisition will give it leverage in the fast-growing European hospitality market.

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