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Challenger Acquisitions boss on maiden investment in New York Wheel

Challenger Acquisitions’ (LON:CHAL) Mark Gustafson tells Proactive Investors he plans to build up projects over the long term after making his first investment in the attractions space. Having received an injection of capital earlier this month, the investment vehicle has paid US$3mln for a 2.46% stake in the upcoming New York Wheel. Executive chairman Gustafson explains the decision to invest was based on the commercial success of the London Eye and reckons there is a significant pipeline of projec

Challenger Acquisitions’ (LON:CHAL) Mark Gustafson tells Proactive Investors he plans to build up projects over the long term after making his first investment in the attractions space.

Having received an injection of capital earlier this month, the investment vehicle has paid US$3mln for a 2.46% stake in the upcoming New York Wheel.

Executive chairman Gustafson explains the decision to invest was based on the commercial success of the London Eye and reckons there is a significant pipeline of projects ahead. For now though, the business will focus on funding the reverse takeover of specialist engineer Starneth.

Quick facts: Challenger Acquisitions Limited

Price: 0.13 GBX

LSE:CHAL
Market: LSE
Market Cap: £410.2 k
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