Extension to the acquisition process and the acquisition of 100% of the shares of the company Parklane by Invel Real Estate Management (Cyprus) Ltd, of Christoforos Papachristoforos according to an announcement of the company on the CSE.
Specifically and following the announcements of the Company dated 26/10/2020 and 25/01/2021, regarding the Memorandum of Understanding which has been signed between the companies CCC Tourist Enterprises Public Company Ltd, Emerald Coast Properties Ltd and Invel Real Estate Management ( Cyprus) Ltd for the possible acquisition of 100% of the issued shares of Parklane Hotels Limited, the Company announces that the completion of the acquisition, which is subject, inter alia, to the completion of the due diligence study and final binding agreements, has been further extended until March 15, 2021.
We remind you that CCC Tourist Enterprises Public Company Ltd (the “Company”), which holds 24.98% of the issued shares of Parklane Hotels Limited (“Parklane”), announces that together with Emerald Coast Properties Ltd (“Emerald”), which owns 75.02% of the issued shares of Parklane, have signed a Memorandum of Understanding with Invel Real Estate Management (Cyprus) Ltd (the “Investor”), which gives it an exclusive right to proceed with the due diligence study, and if satisfied to proceed with the acquisition of 100% of the issued shares of the company Parklane.
