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Prodea acquires control over Parklane, Aphrodite Hills and The Landmark Nicosia
12:14 - 11 December 2023
YODA Plc has sold 55% of MHV Mediterranean Hospitality Venture PLC to Prodea Real Estate Investment Company S.A.
The transaction, which was announced on the Cyprus Stock Exchange (CSE), is subject to approval by the Cyprus Securities and Exchange Commission (CySEC) and the Committee for the Protection of Competition.
MHV is active in the hospitality and real estate sectors of Cyprus and Greece, counting a number of luxury hotels and resorts, residential complexes and offices in its portfolio. In Cyprus, it owns the Parklane, Aphrodite Hills and The Landmark Nicosia.
MHV Mediterranean Hospitality Venture PLC was recently listed on the CSE’s Emerging Companies Market, while Prodeo is listed on the Athens Stock Exchange.
If approved, the transaction is expected to be completed in the first quarter of 2024 and once complete, Prodea Investments will hold an 80% stake in MHV.
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