The Service of the Commission for the Protection of Competition has received a notification of a concentration, according to Section 10 of the Control of Concentrations between Enterprises Law of 2014, concerning the proposed acquisition of joint control of Aphrodite Hills Resort Limited (hereinafter “Aphrodite Hills”) by MHV Mediterranean Hospitality Venture Limited (hereinafter “MHV”) and W.R.A. Consultants Ltd (hereinafter “W.R.A.”).
MHV is a limited liability company, duly registered under the laws of the Republic of Cyprus, which operates primarily in the hospitality, tourism and real estate sectors. The company’s portfolio consists of hotel complexes and developments both in Cyprus and abroad. MHV owns and manages luxury resorts such as the Parklane Luxury Collection Resort & Spa, The Landmark Nicosia and the Aphrodite Hills Resort as well as the Nikki Beach in Porto Heli. In real estate, MHV has acquired projects such as the Park Tower and the residential units at Aphrodite Hills.
W.R.A. is a company duly registered under the laws of the Republic of Cyprus and is the parent company of Aesara Investment Ltd, which owns and manages the Atlantica Mare Village Ayia Napa Hotel in Ayia Napa.
The Target in the proposed concentration is Aphrodite Hills, a company duly registered under the laws of the Republic of Cyprus. The company is principally engaged in the development of resorts and leisure facilities as well as in the management and operation of hotel accommodation. The company owns, manages and operates the Aphrodite Hills Resort Hotel in the district of Paphos. In addition, AHRL engages in the development and sale and/or rental of real estate, the operation of a golf course, the rental of shops within the resort, the rental of villas and apartments located in the resort as well as in the provision of property management and related services to the owners and tenants of the Aphrodite Hotel.
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