MHV sells 50% shareholding in Aphrodite Hills Resort to W.R.A. Consultants

09:50 - 08 January 2024

Companies Reporter

MHV Mediterranean Hospitality Venture Plc has entered into an agreement for the sale of the Group’s 50% shareholding in Aphrodite Hills Resort Limited (AHRL) to W.R.A. Consultants Ltd.

The directors of W.R.A. Consultants are Vasilis Nicolaides and Demetris Nicolaides, also the CEOs of Atlantica Hotels & Resorts.

According to an announcement on the Cyprus Stock Exchange’s official website, the agreement was reached on 5 January.

As noted in the announcement, “AHRL and its subsidiaries are active in the development of resorts and recreational areas, and in the management and operation of hotel accommodation. AHRL owns, manages and operates the five-star (5*) Aphrodite Hills Resort Hotel in the district of Paphos.”

As underlined in the announcement, the completion of the above Transaction is subject to the parties obtaining the necessary clearance from the Commission for the Protection of Competition of the Republic of Cyprus (“CPC”).

“Due to the nature of the transaction and for confidentiality purposes that can affect the outcome, the Company will issue a relevant detailed announcement in relation to the Transaction following the CPC approval which should take place during Q1 2024. The Transaction constitutes a transaction at arm’s length,” the announcement concluded.

MHV sells 50% shareholding in Aphrodite Hills Resort to W.R.A. Consultants

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