The Egyptian construction magnate and owner of Meeting Point in Maspalomas, the owner of Labranda, Samih Sawiris, has left the position of president of Meeting Point Jandía, a company that controls from Maspalomas the major operations of the group that, due to the pandemic and the crisis of the group, has left the Stella Maris operation in Fuerteventura in question. As Maspalomas24H announced, Labranda has asked SEPI for a bailout of 66 million euros to avoid closure.
In addition to Sawiris, financier Juan José Vera and Eskandar Adel Tooma are still leaving the group's businesses. The Arab owners of Labranda with FTI have appointed Ángel Rivero and Markus Weriland as joint administrators. Since this month of 2022, the company has communicated the revocation of the position of external auditor to Ernst Young. The purpose of Rivero's presence would be to calm the spirits among the staff of the establishments and suppliers while waiting for the financial normalization of the group with the support of the State, like many other chains in the EU or TUI itself, which has been rescued by Germany. besides Condor.
Since 2021, Sawiris is in the exit phase of Orascom Development Holding and will transfer his duties to his son, to whom he leaves power after more than 30 years at the head of the company, but will remain available as an advisor to the company as part of the proposed succession. The company's board of directors unanimously proposed to appoint Naguib Samih Sawiris as president.
Headquartered in Maspalomas, Meeting Point Spain is a subsidiary of Meeting Point International, a globally positioned destination manager based in Munich, Germany, with offices in 18 countries and 40 destinations and that empowers more than 450 partners with unique resources and purchasing power. Its clients include FTI Group, Europe's fourth largest tour operator, YouTravel, FTI Voyages, Primera Travel, Sundio, Jumbo, Tropo, Sunhotels, Rainbow, Fischer and France's Thalasso.