The Service of the Commission for the Protection of Competition received on behalf of the companies Rodardo Ltd και Intercapital Trust Ltd, notification of a proposed concentration according to Article 13 of the Control of Concentrations between Enterprises Law (Number 22(I)/99), concerning the acquisition of joint control of Demco Insurance Ltd by Rodardo Ltd
Rodardo Ltd is a private limited company registered in Cyprus and does not have any activities as it is a ‘vehicle-company’ for the purposes of a past merger transaction. The company is controlled by Mr. Michael Michaelides and Mr. Athanasios Ktorides.
Intercapital Trust Ltd is a private limited company registered in Cyprus, controlled by Mr. Dimitrios Kontominas and is a holding company.
Demco Insurance Ltd is a private limited company registered in Cyprus and is active in the insurance sector. The company is controlled by Intercapital Trust Ltd.